US Consumers Bear Largest Fuel Cost Burden From Iran War, Study Finds

US consumers have paid an average of $471 more for fuel since the Iran war began on February 28, far exceeding the roughly $60 average borne by consumers worldwide, according to a study released Monday by the Finland-based nonprofit Centre for Research on Energy and Clean Air. The report attributes the disparity to US reliance on less efficient private vehicles, longer travel distances and a relatively slow transition to electric vehicles. It compared fuel prices in January and February to those during the rest of the year across 169 countries from the beginning of March to mid-October. Globally, consumers have paid an additional $468 billion for fuel during that period, with the US accounting for $160 billion, China $54 billion and Canada $17 billion. Consumers in Canada, Australia, New Zealand and Belgium also paid significantly more. The Trump administration says higher fuel prices are a small price to pay to prevent Iran from obtaining nuclear weapons and that prices will fall once the war ends, though the conflict has lasted longer than it predicted.