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

GateNews
CommoditiesStocks
GAS0.89%

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.

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