Americans Have Spent An Extra $68 Billion On Gas Since The Iran War Began: Here's What That Costs Per Person

Higher gas prices have weighed on consumers for months, with the war in Iran sharply increasing oil prices. Here’s a look at the latest gas prices and how much more has been spent by consumers this year compared to last.

Higher Gas Prices

Gas prices hit records during the Labor Day holiday and are showing no sign of slowing down.

Patrick De Haan, a gas industry expert, has shared the latest news and forecasts for the prices of gasoline and diesel fuel on social media. De Haan also has the "America’s Added Fuel Cost Clock."

Similar to the country’s debt clock, this clock doesn’t paint many positives for consumers.

The latest data from DeHaan shows that American consumers have spent $68.1 billion more on gasoline than in the same period last year since March 1.

This translates to around $252 more for every U.S. adult (269.8 million) over the last six months. That represents around $42 more per month for each U.S. adult.

This figure is likely higher because it includes all adults and does not account for those who don’t drive or who have electric vehicles. The figure does not factor in teenage drivers either.

DeHaan’s clock also shows that $43.0 billion more has been spent on diesel since March 1 compared to last year.

Add the two figures up and higher oil prices globally means $111.05 billion more spent on gas and diesel by Americans in 2026 compared to the prior year.

The diesel costs don’t impact as many Americans directly, but rising costs for drivers will likely see costs of goods passed on to consumers, which could mean more expensive items at grocery stores and other retailers.

What’s Next for Gas Prices?

While gas prices are trading near records, De Haan predicts the worst could still be to come.

The average price of gas is $4.371 a gallon nationally on Wednesday, trading shy of the all-time high of $4.566 per gallon. Diesel averages $6.315 per gallon and could hit $6.50 per gallon in the next 48 hours according to the expert.

De Haan said new records could be set this weekend.

While diesel averages over $6 per gallon nationally, some states, like California, have seen diesel prices exceed $8 per gallon. This recently prompted De Haan to imagine a worst-case scenario.

“The real story may be out West – California could blow past $8/gal, and some pumps aren’t even built to display what could come next,” De Haan tweeted.

What De Haan is referring to is the possibility of $10 per gallon in states like California. Current displays at most gas stations likely only have the capacity for single digits and two decimal places, which means a diesel price of $10 per gallon would require finding a way to display it.

Diesel prices are already weighing on consumers, the economy and the minds of voters. Hitting the $10 level in any state and seeing images of customized signs could further dampen things.

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