The NPR Politics Podcast

The toll the war in Iran has on the U.S. economy

109 snips
Mar 11, 2026
Scott Horsley, NPR chief economics correspondent who explains inflation and energy markets, breaks down how the war in Iran is rattling oil supplies. He walks through why gas spiked, how fuel shocks ripple into food and transport costs, and why markets and policy makers face tough tradeoffs. The conversation also touches on public mood and political consequences.
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INSIGHT

Strait Of Hormuz Disruption Drove Rapid Gas Spike

  • The Iran war disrupted tanker traffic through the Strait of Hormuz, lifting crude oil and gasoline prices quickly.
  • About 20% of global oil transits the strait, and U.S. pump prices rose roughly $0.60 per gallon within two weeks of the conflict's start.
ANECDOTE

Poll Shows Majority Opposes War While Blaming Administration

  • Domenico Montanaro noted that a majority opposes the war and blames the administration while feeling the pain at the pump.
  • NPR/PBS NewsMarist found 56% opposed the war and only 35% gave Trump positive economic job approval.
INSIGHT

Gasoline Now Pushing Inflation Higher

  • Gasoline shifted from being a counterweight to inflation into a driver of higher inflation because prices are now higher than a year ago.
  • If current oil prices persist, gasoline could push U.S. inflation above 3% by the end of next month.
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