Costs of unresolved Iran war mount, from high gas prices to fears of famine: Live updates
By Michael Loria
Published on May 1, 2026.
The ongoing conflict between the United States and Iran is causing significant economic costs, including high gas prices and potential for famine. The main issue is the closure of the Persian Gulf, where the U.S. Navy continues to maintain a blockade of Iranian ports in hopes of Iran agreeing to President Donald Trump's demands regarding their nuclear program. The conflict is also delaying vital food and medical supplies from Sudan, where 41% of the population is under severe food insecurity.
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