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Gas Prices Hit $4.12, Lower-Income Households Struggle

4/14/2026

36 4 Full Breakdown

Summary

Story summary

Gas prices rose to $4.12 per gallon, contributing to a record-low consumer sentiment as 69% of Americans fear fuel costs amid Strait of Hormuz tensions.
Consumers cut discretionary spending in casual dining as quick-service restaurants gain patrons.
Bank of America research finds gas spending tracks price rises and prompts households to adjust budgets.
The impact falls hardest on lower-income households.

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Story summary

Gas prices rose to $4.12 per gallon, contributing to a record-low consumer sentiment as 69% of Americans fear fuel costs amid Strait of Hormuz tensions.
Consumers cut discretionary spending in casual dining as quick-service restaurants gain patrons.
Bank of America research finds gas spending tracks price rises and prompts households to adjust budgets.
The impact falls hardest on lower-income households.