Iran War Drains US Citizens' Wallets, Fuel Costs Exceed Rp600 Trillion
US citizens are bearing the brunt of the war led by Donald Trump. The conflict between Iran and the United States-Israel has even reduced the purchasing power of American society.
A study from Brown University indicates that the conflict has caused US citizens to pay more than US$37.3 billion, or approximately Rp652.75 trillion, due to the surge in energy prices.
This cost increase has occurred since 28 February, when the US and Israel launched a sudden attack on Iran. The ongoing conflict has triggered major disruptions in the global energy market, particularly after Iran closed the Strait of Hormuz.
US Citizens Pay Dearly for Petrol and Diesel
According to the Brown University’s Iran War Energy Cost Tracker, the majority of the additional costs borne by US citizens stem from the rise in petrol (BBM) and diesel prices.
The leader of the study project, Jeff Colgan, stated that this cost increase directly burdens US consumers in their daily lives.
He noted that people now have to spend more money on transportation needs, including long trips and summer holidays. Petrol prices in the US have now exceeded US$4.5 per gallon (approximately 3.7 litres), surging more than 50% compared to before the war began.
Closure of the Strait of Hormuz Triggers Global Energy Chaos
The energy price surge was triggered by Iran’s decision to close the Strait of Hormuz in retaliation against the US and Israeli attacks.
The strait, which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, is one of the world’s most important energy shipping routes. Therefore, disruptions in the Strait of Hormuz will disrupt global oil distribution and strain global supply chains.
Not only that, Iran also attacked energy infrastructure belonging to US Arab allies in the Gulf region.
On 18 March, Iran launched missiles at Ras Laffan in Qatar, which is the world’s largest liquefied natural gas (LNG) production centre. That attack worsened the pressure on global energy supplies and increased logistics and international shipping costs.
As a result, the surge in oil and fuel prices is now felt not only by energy-producing countries but also directly burdens global consumers, particularly US society which heavily relies on private vehicles.