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Iran War Pushes Gas $4+, CPI 3.3%, GDP Slows.

4/25/2026

46 8 Full Breakdown

Summary

Story summary

The Iran war has pushed U.S. gasoline prices above $4 per gallon, with the national average at $4.06 according to AAA on Friday.
The Consumer Price Index rose to 3.3% year-over-year in March, the highest level since May 2024, as energy costs increased.
Gregory Daco, chief economist at EY-Parthenon, expects the war to cut U.S. GDP growth by 0.3 percentage points this year, leaving growth at 1.8% versus 2.1% in 2025.

History

Historical Context

During the 1973 Yom Kippur war, OAPEC led by Saudi King Faisal cut production 5 % per month and imposed an embargo on the United States, sending crude from $3 to $5.12 per barrel and spiking U.S. gasoline to about 55 ¢/gal. The 2024 Iran-Israel clash has again lifted U.S. gasoline to $4.06 per gallon, echoing the earlier oil-weapon shock.

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Story summary

The Iran war has pushed U.S. gasoline prices above $4 per gallon, with the national average at $4.06 according to AAA on Friday.
The Consumer Price Index rose to 3.3% year-over-year in March, the highest level since May 2024, as energy costs increased.
Gregory Daco, chief economist at EY-Parthenon, expects the war to cut U.S. GDP growth by 0.3 percentage points this year, leaving growth at 1.8% versus 2.1% in 2025.

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