"“The only thing that matters when I'm talking about Iran, they can't have a nuclear weapon. I don't think about Americans' financial situation, I don't think about anybody.”"
"Gasoline is one of the least flexible line items in a household budget. You can defer a vacation. You usually cannot defer your commute. When a non-discretionary cost rises this fast, it either displaces other spending or it pulls from savings."
"The math is straightforward. A household that previously spent $200 a month on gas is now spending roughly 28% more. A two-driver household budgeting $400 is absorbing the same proportional hit. None of that money was sitting unused; it was already allocated to groceries, debt payments, or savings."
"The wider inflation picture confirms the squeeze. The energy component of PCE inflation rose 12% month-over-month in March 2026 and is up 14% year-over-year, the steepest reading in the dataset. WTI crude is trading near $110 per barrel, near the top of its 12-month range."
Gasoline price increases of about 28% over two months raise monthly household costs and reduce available money for other necessities. Gas is a relatively inflexible budget item because commuting cannot easily be deferred, so higher costs must displace other spending or draw down savings. If a household previously spent $200 per month on gas, it now spends roughly 28% more, and a two-driver household spending $400 absorbs a similar proportional hit. The broader inflation data shows energy pressures accelerating, with energy components of PCE inflation rising sharply month over month and year over year. Crude oil prices near the top of their recent range support continued pressure on gasoline costs.
Read at 24/7 Wall St.
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