US Consumerism Disrupted by Iran War, Fuel Prices Soar

India Today · world

The US economy, heavily reliant on consumerism where personal consumption accounts for 70% of economic activity, is facing disruption. The conflict in the Middle East, following US and Israeli attacks on Iran, has led to rising oil prices. Brent Crude has surged, and gasoline prices in America have risen by 40%, with diesel up 60-70%. This impacts daily life, as Americans drive extensively and 90% of goods are transported by diesel trucks. The situation is fueling public anger, reflected in recent midterm election results.