Data: Axios analysis of Energy Information Administration and Bureau of Labor Statistics data; Note: March 2026 measure assumes most recent weekly gasoline price reading ($3.96) and average hourly earnings rising per recent trend ($37.44).; Chart: Neil Irwin/Axios
The U.S. has a key advantage in weathering the Iran war-triggered energy shock that was missing in previous episodes of overseas tumult: an economy that has become substantially less energy-intensive.
Why it matters: Higher prices at the gasoline pump, for jet fuel and for diesel will no doubt hurt. But in relative terms, both the average household and the economy as a whole have more capacity to weather the hit than in the past.
