The US war with Iran has come to a halt, at least for now, with an agreement signed and further talks set to commence. President Donald Trump has claimed that Americans have won, but an objective analysis of the situation suggests a more nuanced story.

Cost of the War

The conflict has cost the Department of Defense around $40 billion, according to preliminary numbers from the Center for Strategic and International Studies. This figure includes the cost of munitions, destroyed equipment, and damage to bases, but does not incorporate operational costs that were already factored into the department’s budget.

The Pentagon has submitted a request for $80 billion in supplemental funding, with less than $20 billion of that total request related to immediate needs from the Iran war. The military used significant portions of key missile inventory, with Trump invoking the Defense Production Act to force defense companies to manufacture more weapons.

Economic Impact

The war has driven up the price of gas, with the average price rising from less than $3 per gallon to over $4 during the conflict. American households have spent more than $253 extra on gas due to the war, according to an energy cost tracker from Brown University. The conflict has also affected farmers and shippers, with the average price of diesel rising from around $3.80 before the war to over $5 as of June 15.

The nation’s emergency reserve of oil has been depleted, with the reserve now at its lowest level since 1983. The world lost 1.15 billion barrels of oil supply during the war, according to Kpler, leading to increased prices and a strain on the global oil market.

Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.