Gas prices have risen sharply since the U.S. war with Iran began in February. The average price of regular gasoline in September was $4.36, according to the U.S. Energy Information Administration. The Get the Facts Data Team built a calculator that shows how many gallons a given amount of money buys, based on each month's average price. The latest BLS data show the gasoline index rose 34.2% year over year, and overall inflation increased to 3.7% as oil prices stayed elevated.
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- Gas price calculator shows how far your money goes
The average U.S. price of regular gasoline was $4.36 in September, according to the Energy Information Administration, after rising sharply since the U.S. war with Iran began in February. The Bureau of Labor Statistics said the gasoline index was up 34.2% year over year, and its 9.1% monthly surge accounted for over half of the overall monthly increase, with headline inflation at 3.7%. The Get the Facts Data Team's new calculator lets users enter typical pump spending to see how many gallons it would have bought at the EIA's monthly average price.
- Gas price calculator shows how far your money goes
Gasoline prices have risen sharply since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 in September according to the EIA. The Get the Facts Data Team built a gas price calculator that uses the EIA's monthly national average to show how many gallons the amount you normally spend at the pump buys now compared with before this year's price changes. The BLS reported the gasoline index rose 34.2% year over year in September, and a 9.1% monthly surge in the index accounted for over half of the month's overall increase. Overall inflation worsened to 3.7% year over year last month as the ongoing U.S. war with Iran keeps oil prices elevated.
- Gas price calculator shows how far your money goes
Gas prices have risen sharply since the U.S. war with Iran began in February, with the average price of regular gasoline at $4.36 per gallon in September according to the U.S. Energy Information Administration. The article introduces a calculator that shows how many gallons a set amount of money buys at each month's national average price, allowing comparisons with earlier periods. It notes that the gasoline index was up 34.2% year over year in September according to the Bureau of Labor Statistics, and that overall inflation rose to 3.7%.
- 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, higher fuel prices are making driving and flying more expensive and adding to the cost of some goods, straining households before the midterm elections. AAA reported national average gasoline at $4.33 a gallon on Friday, 45% above its prewar level of $2.98, while diesel was up 68% at $6.33. Moody's Analytics chief economist Mark Zandi estimated the war has cost the average U.S. household almost $2,000, including $1,100 in higher energy prices, $540 in higher interest rates and $360 in military costs. Airfares were about 22% higher in September than a year earlier, and the USDA now expects grocery prices to rise 2.4% this year, up from 1.7%. Many companies have absorbed part of their higher costs, but a September jump in wholesale prices suggests some may charge more if fuel stays elevated.
- 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, higher fuel prices are raising the cost of driving, flying, and some goods, though retail prices have not risen across the board. Moody's Analytics chief economist Mark Zandi estimates the war has cost the average U.S. household almost $2,000, including $1,100 in higher energy prices, and that the energy portion is growing by $50 a week at current fuel prices. U.S. regular gasoline averaged $4.33 a gallon, 45% above its prewar level, while diesel was up 68% at $6.33, and airfares were about 22% higher in September than a year earlier. The USDA now expects grocery prices to rise 2.4% this year, up from its earlier 1.7% forecast, and many companies have absorbed part of their higher costs so far, though analysts warn this could change if fuel prices stay high.
- 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, higher fuel prices are raising the cost of driving, flying and some goods, with motorists and air passengers bearing the clearest impact. Gasoline averaged $4.33 a gallon, 45% above its prewar level of $2.98, while diesel rose 68% to $6.33, according to AAA. Airfares were about 22% higher in September than a year earlier, and USDA now expects grocery prices to rise 2.4% this year, up from an earlier estimate of 1.7%. Moody's Analytics estimated the war has cost the average U.S. household almost $2,000, including $1,100 in higher energy prices. Many companies have absorbed only part of their higher costs, so prices could rise further if fuel stays elevated.
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