Sh*t Costs Too Much: Energy
Diesel costs over 60% more than it did in January, gas is up around 45%, and electric bills keep climbing — the war with Iran and blocked energy projects are squeezing families at the pump and at home.
Sh*t Costs Too Much.
Fact sheet · September 2026
60%+
More than diesel cost in January — a four-year high
45%
Higher gasoline prices than in January, the most expensive August at the pump on record
15%+
Rise in household electric bills nationally since January 2025
Americans are paying more for everything these days — especially energy. Diesel and gas prices are through the roof, electric bills are up, and paychecks aren’t keeping pace. For millions of families, making ends meet has gone from hard to impossible. Diesel now costs over 60% more than it did in January after hitting a four-year high as hundreds of millions of Americans face record-breaking prices this fall.
Key points
- Diesel just hit a record high, now costing over 60% more than it did in January — driving up everything from school bus routes to groceries, farm goods, and freight. Diesel stockpiles are also at their lowest level since the 1980s.
- Gasoline now retails for around 45% higher than it did in January. Last month was the most expensive August at the pump on record, with regular gas running nearly $1.00 more per gallon than it did a year ago.
- Household electric bills are up over 15% nationally since January 2025, with some states seeing spikes as high as 30%.
- Utility bill debt balances have spiked 32% over the past four years.
- High energy costs impact working families the most. Households earning under $50,000 a year spend nearly 6 times more of their income on energy than households earning more than $150,000 a year.
- Americans are more worried about energy costs than at any point in nearly two decades.
- Nearly eight in 10 Americans say their electricity and heating bill went up in 2025. The vast majority (84%) of Americans are concerned about the cost of electricity.
- 74% of Americans say gas prices have caused their household financial hardship, and fewer than one in four think the president has a plan.
Core drivers
War with Iran curbs supply, spiking oil and gas costs for everyone
At the end of February, the U.S. launched strikes against Iran, sparking a war that has shuttered the critical seaway used for transporting a fifth of the world’s oil supplies, sending prices through the roof for gasoline, diesel, and more.
Six months in, the war with Iran has no end date
The White House predicted the war would be over in four to six weeks. Over six months later, Iran still exerts control over the Strait of Hormuz and talks are at a standstill, with both sides trading strikes at the start of September.
The administration was warned before it fired a shot
Intelligence and military leaders told the president that Iran would answer strikes by closing the Strait of Hormuz and throwing oil markets into chaos. He attacked anyway, and those warnings have come true at the pump.
Funding for new energy projects ripped away amid soaring demand
The federal government ripped away tens of billions of dollars in funding for clean energy projects, resulting in a loss of over 34 gigawatts worth of energy capacity, which could have powered an estimated 17 million homes. Blocking new clean energy projects constrains the country’s electricity supply, driving up costs amid soaring demand from consumers facing more extreme climate conditions and the explosive growth of AI data centers.
Tariffs raising costs for utility rates
The federal government’s imposition of tariffs on key grid components like aluminum and steel raised costs for utility companies, which pass on higher costs and capital investments onto ratepayers everywhere.
Every figure here is sourced and linked to public reporting, government data, and independent analysis.
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