Rising gas prices strain US household finances in new poll
Most Americans report financial strain from rising gas prices as conflict with Iran impacts supplies. A poll finds 87 percent expect costs to climb further.
Rising gasoline prices are putting significant pressure on household finances across the United States, with a majority of citizens expecting fuel costs to continue their upward trajectory. According to a new Reuters/Ipsos poll, 55% of respondents reported that their household finances have taken a hit from recent price hikes, with 21% stating they have been affected a great deal.
The average price of gasoline in the country has surged by nearly a dollar per gallon since February 28. This spike followed a military escalation where the U.S. and Israel targeted Iran, triggering counterstrikes on energy installations belonging to American allies. The conflict has effectively closed the Strait of Hormuz, a vital maritime corridor that facilitates the transport of one-fifth of the global oil supply.
