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Iran War Pushes U.S. Oil Spending Up $45 Billion, Widening Wealth Gap as Energy Stocks Surge 32%

Commodities Stocks

2026-05-17 00:21:48

GAS-2.20%

According to the Wall Street Journal, Americans spent approximately $45 billion more on gasoline and diesel during the Iran war period compared to the prior year as of May 17, 2026. The surge in oil prices is consuming a larger share of middle and lower-income households' earnings, while energy investors benefit from portfolio gains. S&P 500 energy stocks rose 32% year-to-date, and oil and gas companies posted first-quarter profits at multi-year highs, according to Evaluate Energy.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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