US energy consumers have spent $121 bn extra due to war: Moody’s — SkimNews
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- Moody's Analytics estimated US consumers have spent $121 billion more on energy since the war began in February, averaging $1,760 per household in total added expenses ($930 on energy alone).
- Mark Zandi, Moody's chief economist, told CNBC consumers are "under a lot of financial pressure," with households also paying $425 more in higher interest rates and $405 for military spending.
- Iran responded to US attacks by shutting down commercial shipping traffic in the Strait of Hormuz, triggering global energy price spikes.
- Karthik Sankaran of the Quincy Institute warned options to cushion energy shocks have narrowed—seaborne storage is depleted, the US Strategic Petroleum Reserve has released 130 million barrels—and noted high diesel prices will hit Global South countries hardest since diesel powers trucks and farm equipment where car ownership is low.
- Syrian protesters blocked the Hasaka–Deir ez-Zor highway on Sunday, burning tires and stopping oil tankers, as part of global fuel-price protests also seen in Guatemala, France, Portugal, and the Philippines, per CNN.
Why it matters: US households are out $1,760 on average eight months into a war launched without congressional authorization, and the Quincy Institute warns relief is unlikely as global energy buffers dwindle. The $425 interest-rate hit and $405 military surcharge per household show the war is squeezing families through multiple channels beyond the gas pump.
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