Retail price impacts from the Iran war are uneven but add up for US households before midterms

More than seven months into the U.S. war with Iran, sharply higher fuel prices are raising the cost of driving and flying and starting to influence prices for some goods and services as midterms approach. Motorists and airline passengers are seeing the biggest impact because the fighting has disrupted Middle East oil shipments. Some companies have added delivery charges or raised prices on selected products, but store prices have not increased across the board yet. Moody’s Analytics economist Mark Zandi estimates the war will cost the average U.S. household the equivalent of nearly $2,000, including $1,100 from higher energy prices, $540 from higher interest rates and $360 in military costs. Gas is up to $4.33 per gallon nationally, while diesel averages $6.33. Future risks include tighter oil flows through the Strait of Hormuz and higher winter heating costs for heating-oil households.