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Americans have spent nearly $450 extra per household on rising energy<\/a> costs during the Iran War<\/a>, according to an analysis shared exclusively with CNBC’s Steve Liesman.<\/p>\n The average household has shelled out $447.19 for additional fuel-related expenses since the conflict began, data from Moody’s Analytics<\/a> found. That’s cumulatively cost American consumers nearly $60 billion as gas prices and airline fares surge.<\/p>\n Moody’s data puts a dollar amount on a portion of the economic pain Americans are feeling as the U.S.-Iran war reaches its three-month mark. Higher energy costs can force consumers to raid their savings and lean more on debt to cover expenses.<\/p>\n “Unless the war ends soon, financially pressed consumers will have no option but to turn more cautious in their spending, threatening the already soft economy,” said Mark Zandi<\/a>, Moody’s chief economist.<\/p>\n If prices stay at current levels, the average household could take a hit of almost $2,000 at the one-year mark of the war, Zandi said.<\/p>\n Roughly half of the increased energy spending so far comes from higher gasoline<\/a> prices. The average unleaded gallon in the U.S. cost about $4.39 on Friday, up more than 47% since the start of March, according to AAA<\/a>.<\/p>\n Pricier diesel, which is used in vehicles like delivery trucks and boats, has resulted in more than $20 billion in additional expenses for consumers. The price of diesel has similarly jumped roughly 47% since March began to around $5.52 a gallon, per AAA.<\/p>\n Consumers have given up nearly $10 billion extra as a result of rising costs for jet fuel. Airline fares climbed more than 20%<\/a> in April compared with 12 months ago, federal government inflation data shows.<\/p>\n That nearly $450 impact more than erased the boost of $384 per household from bigger tax returns this year under President Donald Trump<\/a>‘s “big, beautiful bill,”<\/a> according to Moody’s. Most of the benefits from larger tax cuts have already been exhausted, Zandi said.<\/p>\n Goldman Sachs said it expects higher energy prices to “erode” consumers’ spending power through the rest of 2026. It should specifically hamper lower-income households that spend a larger percentage of budgets on food and energy, the bank said.<\/p>\n Costco<\/a> saw “record-breaking” gas volumes<\/a> at the end of its fiscal quarter as drivers sought out its lower-priced fuel, the wholesaler said Thursday. McDonald’s<\/a> CEO Chris Kempczinski warned this month<\/a> that consumer spending \u2014 specifically among lower-income cohorts \u2014 “may be getting a little bit worse” as energy prices pinch pocketbooks.<\/p>\n Turning to savings, debt<\/p>\n Consumer spending rose 0.5% from March to April, according to government figures released Thursday<\/a>. But other data points show that isn’t necessarily coming from discretionary funds.<\/p>\n Income growth came in flat for April, missing the consensus forecast among economists for a 0.4% increase.<\/p>\n The personal savings rate fell to 2.6% in April, one of the lowest readings since the global financial crisis. It’s far off highs seen in 2020 above 31%, signaling that consumers have continued to spend through pandemic stimulus and rainy-day stashes amid inflationary pressures.<\/p>\n American credit card debt came in at $1.25 trillion in the first quarter, up close to 6% from a year ago, the New York Federal Reserve<\/a> said this month. That’s near the all-time record<\/a> set at the end of 2025.<\/p>\n “Consumers are increasingly facing an income squeeze, which is forcing them to use savings, credit and wealth to sustain their spending patterns,” said Gregory Daco, chief economist at EY-Parthenon. “What we’re seeing is, essentially, the use of savings to offset weak income growth.”<\/p>\n \u2014CNBC’s Steve Liesman and Betsy Spring contributed to this report.<\/p>\n