Gas Price Surge Hits Lower-Income Americans Hardest
New research shows lower-income Americans cut gas consumption by 7% but spent 12% more in March, while higher-income households increased spending by 19% with minimal usage reduction.
New research shows lower-income Americans cut gas consumption by 7% but spent 12% more in March, while higher-income households increased spending by 19% with minimal usage reduction.
US gasoline prices have surged 52% since the Iran war began, driven by oil supply disruptions at the Strait of Hormuz. Analysts explain the factors behind the spike and why a quick fix is unlikely.
US airlines spent over $5 billion on jet fuel in March, a 56% increase from February, due to global oil disruptions from the Iran conflict. Costs led to fare hikes and baggage fee increases.
A survey shows 91% of Americans use loyalty programs to decide purchases, with 13% checking daily for points. Savings can offset high gas prices.
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Shipping companies are grappling with rising costs and safety risks as hundreds of vessels remain stranded in the Persian Gulf, with no clear timeline for the Strait of Hormuz to reopen amid the Iran war.
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Despite 13,000 flights cut globally in May due to jet fuel shortages from the Iran war, experts say summer plans should be safe, with only 1-2% of flights affected.
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The FTSE 100 closed up 2.2% as oil prices tumbled on reports of a potential US-Iran peace deal, with markets buoyed by hopes of an end to the Middle East war.
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Sky Sports has signed a contract extension to broadcast Formula 1 in the UK until 2034, extending their partnership beyond two decades. Highlights remain on free-to-air TV.
The Department for Transport has reassured passengers that there is no current jet fuel shortage, advising against changing travel plans and outlining passenger rights.
A new silver mine in Vares, Bosnia, brought jobs but also lead exposure to over 300 residents, sparking health fears and criminal charges against the Canadian operator.
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RecommendedThe average home insurance claim paid in Q1 2026 reached £6,340, a 20% annual rise. Weather-related claims averaged £6,040, up 38%. Premiums fell 5% to £375.
New research shows lower-income Americans cut gas consumption by 7% but spent 12% more, while higher-income households boosted spending 19% with minimal cuts, worsening economic disparities.
Nearly half of Americans want a career change. Discover three surprisingly high-paying jobs: court stenographer, dental hygienist, and information security analyst.
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