{"id":3416,"date":"2026-07-16T23:38:03","date_gmt":"2026-07-16T23:38:03","guid":{"rendered":"https:\/\/hometransferguide.com\/?p=3416"},"modified":"2026-07-16T23:38:03","modified_gmt":"2026-07-16T23:38:03","slug":"iran-war-takes-another-bite-out-of-americans-wallets","status":"publish","type":"post","link":"https:\/\/hometransferguide.com\/?p=3416","title":{"rendered":"Iran War Takes Another Bite Out Of Americans\u2019 Wallets"},"content":{"rendered":"
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Americans won\u2019t be getting a break from stinging prices at the pump anytime soon as President Donald Trump moves to escalate the Iran War.<\/p>\n

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Americans should expect an immediate and direct impact on gas prices in the U.S. as a result of the continued escalation in the Iran War, economists told the Daily Caller News Foundation. The U.S. military has struck Iranian territory in recent days, and Tehran\u2019s military has retaliated with strikes across the Gulf Arab states.<\/p>\n

Diesel and regular unleaded fuel prices are up roughly 7 cents from a week ago, according to AAA<\/span>.<\/p>\n

\u201cSo far, governments and markets have managed through the Iran conflict and disruptions to oil flows through the Strait of Hormuz by curtailing demand, drawing down government-held and commercial inventories, and, where possible, incrementally increasing production,\u201d Mariam Al-Shamma, a director at the Bipartisan Policy Center<\/span>, told the DCNF. \u201cThey\u2019ve also turned to alternative energy sources like coal to make up for some of the supply gap. However, emergency reserves of oil and ready alternatives are finite. At some point, if disruptions to oil trade persist, the supply crunch will intensify, leading to much more dramatic price spikes than what we\u2019ve seen so far.\u201d <\/p>\n

The Iran War will likely impact gas prices long after its completion. (RELATED: As Iran War Oil Stranglehold Continues, Another Crisis Brews)<\/strong><\/p>\n

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\u201cDamage to energy infrastructure and assets could also mean that effects last well beyond any cessation in hostilities,\u201d Al-Shamma, told the DCNF. \u201cDepending on the scale of any damages, lower oil production and export capacity in the near term means that global supply could remain constrained, potentially resulting in sustained higher crude and refined product prices. This will also challenge governments\u2019 and companies\u2019 ability to refill stockpiles, and in turn their resiliency in the face of future supply shocks.\u201d<\/p>\n

\u201cAs the world knows, President Trump\u2019s first preference is always peace and diplomacy; however, Iran has chosen the path of violence, and they are reaping the consequences. President Trump will never allow Iran to have a nuclear weapon and will continue advancing America\u2019s national security interests,\u201d White House spokeswoman Olivia Wales told the DCNF. \u201cAt the same time, the President is committed to implementing his proven economic agenda of tax cuts, deregulation, and energy abundance on the home front to lower costs for working families. As the Iranian terror threat is fully neutralized, Americans will again see cooling inflation, gas prices at multi-year lows, and accelerated economic growth.\u201d<\/p>\n

Running Out Of Juice<\/h3>\n

As emergency stockpiles of oil, such as the U.S. Strategic Petroleum Reserve<\/span>, continue to dwindle, secondary issues such as infrastructure integrity have become a new concern.<\/p>\n

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\u201cThe U.S. SPR [Strategic Petroleum Reserve] is reaching critically low levels now that threaten the operational integrity and infrastructure of its underground caverns and transmission lines,\u201d energy public policy analyst David Blackmon told the DCNF. \u201cThe DOE will have to make some hard choices about whether it can safely continue these large withdrawals in the near future.\u201d<\/p>\n

The U.S. SPR infrastructure is currently aging and in need of repairs, according to the U.S. Government Accountability Office<\/span>. <\/p>\n

\u201cThanks to the U.S. military and President Trump, oil is moving through the Strait of Hormuz. Yesterday, 8.5 million barrels of oil transited through the Strait, consistent with the recent average,\u201d a Department of Energy spokesperson told the DCNF. \u201cThis puts the Arabian Gulf Region flows at about 15 million barrels per day. The U.S. military will ensure oil flows continue, with or without the Iranians, to keep markets well supplied.\u201d<\/p>\n

The U.S. Energy Information Administration<\/span> (EIA) says that the current U.S. Strategic Petroleum Reserve balance is roughly 319 million barrels, as of the week ending July 3, 2026. This is the lowest level of oil in the reserve since 1983, according to the EIA data.<\/p>\n

Not all experts that the DCNF contacted were pessimistic about the economic outlook on the results of the Iran War. <\/p>\n

\u201cIran\u2019s capabilities have been so profoundly degraded that a broader escalation in the Gulf is unlikely. Recent attacks seem to be driven by disorder and competition within the regime\u2019s leadership, as well as a propaganda effort to project strength,\u201d Jacob Olidort, chief research officer and director of American Security at the America First Policy Institute, told the DCNF. \u201cThe United States and its partners are securing the Strait of Hormuz and expanding alternative energy routes, sharply limiting Iran\u2019s ability to disrupt global markets. Continued military and economic pressure, backed by coordinated action with our allies, will stabilize oil markets and protect the trade route.\u201d<\/p>\n

Another issue affecting the global oil supply chain is the storage capacity of oil production facilities. Oil constantly flows from wells and must be stored.<\/p>\n

If oil producers run out of storage for their crude oil, they may be forced to shut down the wells. Experts previously<\/span> told the DCNF that many of these wells may not be able to be restarted after they are shut down, due to their age and pressures<\/p>\n

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\u201cWhen the takeaway capacity disappears, the operator has little choice but to close the valve,\u201d Steve Hanke, a professor of applied economics at Johns Hopkins University and has been analyzing OPEC since the \u201980s, previously told the DCNF. \u201cThe strongest wells can be returned to service within days, while most require weeks or months of intervention. Marginal wells often require years, and some never return at all. Following the 2020 [COVID-19] episode, a portion of restoration work waited as long as two years simply because qualified service crews were unavailable.\u201d<\/p>\n

Old data from JP Morgan reported by Bloomberg<\/span> suggested that countries in the Persian Gulf could have run out of oil storage months ago, as early as May 8, 2026. However, the blockades in the Persian Gulf have repeatedly started and stopped throughout the Iran War, so it remains unclear what capacity the oil storage facilities currently retain.<\/p>\n

The oil well shutdowns that were previously predicted<\/span> by the experts in the DCNF reporting from April have become a reality, as many wells have been shut down since this reporting.More than 14 million barrels per day of oil production is now shut down as of May 2026, according to the International Energy Agency<\/span> (IEA).<\/p>\n

The IEA forecast 2026 global oil demand at 104 million barrels per day in its May 2026 report. The loss of oil production in the May report makes up nearly 14% of global oil demand.<\/p>\n

The IEA June 2026 report optimistically predicted that an upcoming deal with the Iranian government would allow this production to resume; however, recent escalations<\/span> in the conflict have proventhis prediction to be inaccurate.<\/p>\n

\u201cObviously, all of these factors discussed here have placed upwards pressure on prices not just for energy but for all consumer goods,\u201d Blackmon told the DCNF. \u201cThat pressure has been mitigated by smart government actions and development of alternative transportation routes out of the Persian Gulf region, but the upwards pressure will remain in place for as long as this conflict endures.\u201d<\/p>\n

Economists previously<\/span> told the DCNF in April that if blockades<\/span> on the Strait of Hormuz were to continue, famines in Asia and Africa would likely occur during next year\u2019s harvest season.<\/p>\n

Famine On The Horizon?<\/h3>\n

Several months later, the war continues, and multiple blockades have repeatedly disrupted the global shipment of fertilizer; at this point, these famines will likely become a reality next year, multiple experts told the DCNF.<\/p>\n

\u201cNitrogen [fertilizer] in general and fuel both spiked because of the war,\u201d one farmer said in a Drop Site News video reposted<\/span> by Farm Action U.S. on X.<\/p>\n

\u201cThe World Trade Organization<\/span> [WTO] says that exports from the Persian Gulf of urea – a key fertilizer feedstock – have dropped to near zero due to the Hormuz shutdown,\u201d Blackmon told the DCNF. \u201cThat has caused prices on the global market to skyrocket due to regional shortages. That in turn could have a significant impact on crop yields in 2027. African nations that are heavy importers of this commodity are especially vulnerable.\u201d<\/p>\n

As explained by Blackmon, the reality painted by the WTO<\/span> is grim. African nations, such as Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda and Zimbabwe are likely to be the most highly affected by the fertilizer shortages, according to the WTO.<\/p>\n

\u201cOther places around the world, like Sub-Saharan Africa or many parts of Southeast Asia, and people are simply not going to be able to afford those higher food prices, and they will literally have to do without,\u201d E.J. Antoni, chief economist at The Heritage Foundation, previously told the DCNF. \u201cAnd in the case of necessity, like food, doing without means death.\u201d<\/p>\n

If the price of fertilizer rises too high, developing nations will no longer be able to continue farming, raising the price of food exponentially, Antoni previously told the DCNF. Antoni explained that the famine would not touch the United States; however, Americans \u201cwill pay more for food.\u201d<\/p>\n

Americans would have to spend their \u201cdisposable income\u201d on food, Antoni previously said. Fertilizer prices spiked<\/span> similarly following Russia\u2019s February 2022 invasion of Ukraine.<\/p>\n

\u201cA shortage is certain, and so crop yields, especially in the northern hemisphere, are likely to be down this year in areas that lack their own fertilizer production,\u201d J.D. Foster, a former senior fellow on the economics of fiscal policy at The Heritage Foundation, previously told the DCNF.<\/p>\n

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The new escalation in the Iran War will cost you at the gas pump.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[31,82],"class_list":["post-3416","post","type-post","status-publish","format-standard","hentry","category-interesting","tag-donald-trump","tag-iran-war"],"yoast_head":"\nIran War Takes Another Bite Out Of Americans\u2019 Wallets - Home Transfer Guide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hometransferguide.com\/?p=3416\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran War Takes Another Bite Out Of Americans\u2019 Wallets - Home Transfer Guide\" \/>\n<meta property=\"og:description\" content=\"The new escalation in the Iran War will cost you at the gas pump.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hometransferguide.com\/?p=3416\" \/>\n<meta property=\"og:site_name\" content=\"Home Transfer Guide\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-16T23:38:03+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/hometransferguide.com\\\/?p=3416#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/hometransferguide.com\\\/?p=3416\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/hometransferguide.com\\\/#\\\/schema\\\/person\\\/47c12a8611db56d3441574d894569529\"},\"headline\":\"Iran War Takes Another Bite Out Of Americans\u2019 Wallets\",\"datePublished\":\"2026-07-16T23:38:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/hometransferguide.com\\\/?p=3416\"},\"wordCount\":1605,\"commentCount\":0,\"keywords\":[\"donald trump\",\"iran war\"],\"articleSection\":[\"Interesting\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/hometransferguide.com\\\/?p=3416#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/hometransferguide.com\\\/?p=3416\",\"url\":\"https:\\\/\\\/hometransferguide.com\\\/?p=3416\",\"name\":\"Iran War Takes Another Bite Out Of Americans\u2019 Wallets - 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