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U.S. gasoline prices climbed about 50% since Iran war began, PBS reports

financeMay 28, 202631689

PBS analysis finds U.S. gasoline prices climbed about 50% since the Iran war began, driven largely by higher global crude oil prices. The pump-price surge contributed to a key inflation gauge reaching its highest level in three years in April and has eroded household real incomes and spending power. That matters because rising fuel costs are inflationary, squeeze budgets, and complicate Federal Reserve policy as it balances fighting inflation with supporting economic growth.

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