US Consumers Bear Heaviest Burden From War-Driven Oil Price Spikes, CREA Study Shows

United States consumers are absorbing the largest global share of fuel price inflation triggered by Middle East conflict, according to the Centre for Research on Energy and Clean Air. Since hostilities erupted on February 28, causing supply disruptions and a Strait of Hormuz blockade, global consumers have incurred $468 billion in extra fuel costs through mid-October. The U.S. accounts for $160 billion, or roughly $471 per American, compared to a global per-capita average of $60. China and Canada absorbed $54 billion and $17 billion respectively, while German diesel prices reached roughly $9.73 per gallon.