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By Andrew Stanton
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Heating costs are soaring for millions of Americans amid the ongoing Iran war.
Why It Matters
The United States and Israel struck Iran in a military operation dubbed Operation Epic Fury on February 28 after failed talks between the U.S. and Iran to address Iran’s nuclear program.
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The strikes have continued in the days since and killed Iran’s supreme leader, Ayatollah Ali Khamenei. Thirteen U.S. service members have died in the conflict within its first 10 days, while Iranian officials say 1,300 Iranians have been killed.
The war also carries economic stress—particularly around the price of oil—which further squeezes Americans' budgets already stung by cost-of-living increases. It also triggers political tension for Republicans ahead of the 2026 midterm elections as polls favor Democrats to pick up seats in Congress.
What To Know
Americans across the country are paying more for gasoline, but millions of Americans are taking on additional heating costs due to the war as well. Nearly five million American households use heating oil as a primary heating fuel, according to the U.S. Energy Information Administration (EIA). These Americans are primarily living in older homes in the northeast.
Residential heating oil prices surged amid the Iran war, according to EIA data. On March 9, prices averaged $5.094 per gallon, up from $4.268 per gallon. That was an increase from $4.103 per gallon one week earlier.
Heating prices are already generally higher during the winter months due to increased demand. The northeast has dealt with weeks of cold weather and snowstorms—and forecasts predict parts of the country will continue to face freezing temperatures in the coming weeks.
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Consumers in parts of New England may continue using heating well into April, depending on temperatures.
Delaware was the state with the highest average heating price this week at $5.618 per gallon, according to the EIA. Heating prices exceeded $5 in five other states—Connecticut, Massachusetts, Rhode Island, New Jersey and New York.
Kentucky was the state with the largest jump in prices, as heating prices surged 32 percent from $3.285 per gallon to $4.328 per gallon.
North Carolina, Wisconsin, Massachusetts, Maine, Maryland, Rhode Island, Nebraska, Indiana, Virginia and New Hampshire all saw prices jump at least 20 percent, according to the EIA.
Trump’s Efforts to Reduce Oil Prices
Trump has taken some actions to try to mitigate rising oil prices for Americans.
On Wednesday, the U.S. announced it would release 172 million barrels of oil from the Strategic Petroleum Reserve as part of an effort to combat gas prices. That amounts to roughly 41.4 percent of the total stockpile of 415 million barrels.
The Paris-based International Energy Agency (IEA) earlier said it will make 400 million barrels of oil available from its members’ emergency reserves to combat climbing oil prices amid the war.
Press Secretary Karoline Leavitt also told Newsweek on Thursday that the White House is weighing whether to issue waivers for the Jones Act that would allow foreign oil tankers to supply refiners on the East Coast with fuel from the Gulf Coast and elsewhere for 30 days to address oil price concerns.
Gas prices have continued to rise amid the war. On Friday, prices stood at $3.630 per gallon, according to AAA.
Why Are Oil Prices Rising?
The Middle East conflict has disrupted oil production and sparked uncertainty across global energy markets.
The Strait of Hormuz, a critical chokepoint for global oil transport, has been a focal point of concern, with fears that any prolonged instability could significantly constrain supply.
It lies between Iran to the north and Oman to the south, with shipping lanes passing through the territorial waters of both countries but governed by international maritime law. Iran exerts significant influence because of its long northern coastline and control of nearby islands overlooking the narrow lanes, while Oman oversees the southern side.
The United States and allied navies also operate in the area to protect freedom of navigation, though Iran’s military posture has given it leverage during periods of conflict.
Roughly 20 million barrels of oil per day, about one‑fifth of global petroleum consumption, normally pass through the Strait of Hormuz, according to U.S. Energy Information Administration data. The waterway is also a critical route for liquefied natural gas, carrying about 20 percent of global LNG trade, largely from Qatar. Most of the oil shipped through the strait is bound for Asian markets, making disruptions especially significant for global energy prices.
Shipping has declined due to Iranian threats, missile and drone attacks near the waterway and U.S. military strikes on suspected Iranian minelaying vessels. Many shipping companies and insurers have pulled back because of safety risks and soaring insurance costs, effectively halting commercial traffic even without a formal blockade.
Efforts continue to secure safe passage through the Strait of Hormuz. France and other European allies have reportedly been in discussion with Tehran to reach a deal on the matter. Iran has made allowances for countries not involved in the U.S. and Israel operations, like India.
What People Are Saying
White House spokesperson Taylor Rogers told Newsweek on Friday: "Under President Trump’s American energy dominance agenda, oil and gas production has hit record-highs and prices at the pump had dropped to multi-year lows. President Trump has been clear that these are short-term disruptions. Ultimately, once the military objectives are completed and the Iranian terrorist regime is neutralized, oil and gas prices will drop rapidly again, potentially even lower than before the strikes begin. As a result, American families will benefit greatly in the long."
Nick Barber, co-founder of Prepaid Electricity told Realtor.com: “If prices rise in January or February, there is no way to delay heating needs during extreme cold snaps. Natural gas consumers often have the advantage of utility billing plans that allow them to space their bills over multiple months.”
Rocco Lacertosa, CEO of the New York State Energy Coalition, told Bloomberg: “In January, when consumers were taking more than one delivery a month, it would have been a real budget-killer for sure.”
What Happens Next
Whether oil prices fall in response to efforts from Trump and other leaders across the globe remains to be seen. Trump has demanded Iran’s “unconditional surrender,” and many Americans are concerned the conflict could become a “forever war.”
Correction 3/18/2026 9:15 a.m. ET: This article was corrected to reflect Nick Barber's company as Prepaid Electricity.
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