Americans to Pay $1,096 Extra at Gas Pump Due to Trump-Israel War on Iran By Brett Wilkins
April 9, 2026
Introduction:
(Common Dreams) An analysis published Thursday by the office of US Sen. Ed Markey estimates that the average American motorist will pay nearly $1,100 extra for gasoline in 2026 due to President Donald Trump’s war of choice on Iran.
“The data highlights a worsening affordability crisis, with the average American family facing an annual increase of $1,096 this year if gas prices remain at $4.14 per gallon—a shocking increase of $1.16 per gallon since Trump launched his war on Iran in February,” Markey’s (D-Mass.) office said.
“These numbers are likely an underestimate,” the analysis notes. “Many analysts predict gasoline prices will rise higher without a permanent end to the war. Instead of investing in energy independence, Trump has done everything in his power to destroy American-made affordable clean energy... and double down on the fossil fuels that are now skyrocketing in price.”
“As Americans pay more at the pump, fossil fuel industry executives profit,” Markey’s office said. “During Trump’s first year in office, the five largest oil companies—ExxonMobil, Chevron, ConocoPhillips, Shell, and BP—made more than $75 billion dollars in profits.”
Fossil fuel interests spent $445 million to help elect Trump and other Republicans in 2024. And while some Big Oil executives are reportedly upset that the ceasefire agreement with Iran apparently includes Iranian control of the Strait of Hormuz and the power to charge tolls to tankers passing through the vital waterway, industry executives sold a reported $1.4 billion in shares before and during the war that they may
On Who Benefits from Higher Oil Prices Caused by Iran War By Meghan Schneider
April 8, 2026
Introduction:
(Other Words) Our dependence on fossil fuels does more than pollute our air. It destabilizes the world and empowers the ultra-wealthy to profit off of that volatility, leaving working families to pay the price.
This dynamic has been on full display since President Trump’s attack on Iran.
Trump’s invasion of one of the world’s most oil-rich regions jolted energy markets, sending gas prices soaring to the highest level in either of his terms. In 2024 he campaigned on cutting them in half. Instead, Americans are now on track to pay roughly $720 more for gasoline this year.
The full cost to working families will be much steeper as high gas prices drive up prices on consumer goods across the board. We’re already seeing that ripple effect take hold, as the U.S. Postal Service has proposed a temporary 8 percent fuel surcharge on package deliveries to offset rising transportation costs tied directly to the war-driven spike in oil prices.
At the same time, the oil and gas companies that invested at least $75 million in Trump’s reelection are cashing in on this instability. A recent Financial Times analysis estimates that U.S. oil companies could collect an additional $63 billion in revenue this year if crude prices remain at these wartime levels. In March alone, the industry is expected to generate $5 billion in extra cash flow.
Oil price jumps to $115 after reports of 'extended' Iran blockade
29 April 2026
Oil prices have climbed sharply following reports that the US is preparing for an 'extended' blockade of Iran.
Brent crude rose to around $115 (£85) a barrel on Wednesday, having closed at just over $110 (£81) on Tuesday evening. The price had fallen slightly to $114.37 (£84.68) just before midday BST.
It follows reports from the Wall Street Journal that US President Donald Trump has instructed aides to prepare to extend the ongoing blockade of Iran's ports, in an effort to squeeze the country's economy.
Iran has said it will continue to disrupt traffic travelling through the Strait of Hormuz in response to the US blockade.
Senators Interrogate Big Oil Over ‘Egregiously High Prices at the Pump’ During Iran War By Jessica Corbett
June 15, 2026
Introduction:
(Common Dreams) As President Donald Trump reached an interim peace deal with the Iranian government and Oxfam International revealed that 41 energy industry tycoons collectively increased their wealth by $23.5 billion since the war was launched in late February, a pair of US senators on Monday released their letters demanding answers from fossil fuel giants about their windfall profits and soaring gasoline prices during the conflict.
Senate Banking Committee Ranking Member Elizabeth Warren (D-Mass.) and Committee on Environment and Public Works Ranking Member Sheldon Whitehouse (D-RI) last Thursday wrote to BP America chair and president Orlando Alvarez, Chevron chair and CEO Mike Wirth, ConocoPhillips chair and CEO Ryan Lance, Continental Resources president and CEO Robert Lawler, ExxonMobil chair and CEO Darren Woods, Occidental Petroleum president and CEO Richard Jackson, and Shell USA president Colette Hirstius.
“We write to question why American families are paying egregiously high prices at the pump while the fossil fuel industry collects massive windfall profits thanks to the Trump administration’s war in Iran,” Warren and Whitehouse wrote amid peace talks last week, noting that Iran’s closure of the Strait of Hormuz, a key shipping route for fossil fuels, led to what that the International Energy Agency (IEA) called “the largest supply disruption in the history of the global oil market.”
“Gasoline prices rapidly increased by as much as 52%,” the pair highlighted. “Before the Iran War, oil cost $71.32 per barrel. Since then, it has cost as much as $138.21 and currently sits at $98.29 per barrel. The Iran War has allowed 27 oil and gas companies to rake in over $40 billion in profit since the Iran War began.”
Warren and Whitehouse also emphasized that “the opportunity to profit from high oil prices did not occur in a political vacuum. In April 2024, then-candidate Trump solicited a billion dollars from fossil fuel executives at a private dinner at Mar-a-Lago, promising in exchange to roll back environmental regulations, issue desired permits, and expand drilling opportunities.”
