Trump's Iran war is costing Australian households $42 a week
Forty-two dollars a week. That’s what Trump’s Iran adventure is costing the average Australian household, and most people don’t even realise it yet. John Naughton highlighted a neat calculation on his blog this week, drawing on methodology from the Financial Times. The IEA reported the UK consumed 4.4 million terajoules of oil and gas in 2024. Convert that to barrels, apply the roughly US$40 per barrel price increase since the Iran war kicked off, and British households are about £22 billion worse off.