Most Americans are paying their first tangible cost of President Donald Trump’s war with Iran at the pump.
In just over three weeks since Trump launched the preemptive, all-out campaign with Israel, the national average cost for a gallon of regular gasoline has skyrocketed nearly $1.
On Feb. 26, two days before the war, the national average sat at $2.98, according to data relayed by AAA. By March 23, that has soared to $3.96 ― a 98-cent gain.
Gary Cohn, Trump’s former chief economic adviser, told Yahoo Finance’s ‘Opening Bid’ the prices are “absolutely recessionary” as they take a bite out of consumers’ purchasing power.
“There’s nothing more instantaneous to a consumer than standing there holding down the gas nozzle and watching the numbers tick on the pump,” he said. “And if they were paying $80 a week ago, and they’re paying $85 this week, and they were paying $60 a month ago, they know that ‘I lost $20 of disposable income in filling up this tank of gas.’”
