US-Iran War Impacts Gas Prices
Analysis based on 6 articles · First reported May 12, 2026 · Last updated May 12, 2026
The ongoing conflict between the United States and Iran, particularly Iran's closure of the Strait of Hormuz, has caused a significant 50% surge in gasoline prices, directly impacting household finances and potentially leading to reduced consumer spending on summer travel. This situation is also creating political headwinds for the United States — Republican Party (United States) in upcoming midterm elections, as the public largely blames Donald Trump's administration for the price increases.
A Reuters/Ipsos poll reveals that two out of three Americans believe President Donald Trump has not clearly explained the goals of the US military involvement in Iran, a conflict that began on February 28 with a US-Israeli bombing campaign. The war has led to a roughly 50% increase in gasoline prices across the United States, largely due to Iran's closure of the Strait of Hormuz, which disrupted global oil trade. This surge in prices has negatively impacted household finances, with 63% of Americans reporting a hit to their personal financial situation. Public sentiment also indicates that three-quarters of Americans hold Donald Trump's administration responsible for the gas price surge, with 65% blaming the United States — Republican Party (United States). Donald Trump's approval rating has risen slightly to 36% but remains below pre-war levels. The ongoing situation is expected to influence the November midterm elections, with United States — Republican Party (United States) strategists hoping for a decrease in gasoline prices to improve their chances.
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