The conflict in Iran has tightened energy supplies, impacting sectors dependent on fuel and gas, such as travel.

As a result, Americans facing summer travel plans are encountering significantly higher costs than the previous year. Recently published federal inflation data revealed a 26.7 percent increase in average airfare across U.S. cities in May compared to the previous year. This is also a rise of almost 3 percent from the previous month.

Major airlines like United, Delta, and American have highlighted concerns over escalating fuel prices in their latest earnings reports from April. Each reported that fuel expenses shot up by more than 10 percent from the previous year.

Hotel rates have also seen an uptick of about 5 percent over the past year. This price increase may be linked to heightened demand generated by the FIFA World Cup.

For ground travelers, the situation isn’t significantly better. Public transportation costs have climbed almost 17 percent compared to the previous year. Although inflation might be slowing, this cost increased by 0.3 percent from April to May.

On the vehicle front, new car prices rose by approximately 0.5 percent in May but showed a downturn from the prior month. Car and truck rental prices have decreased by about 6 percent. So while renting is cheaper than a year ago, the increased motor fuel costs, up nearly 41 percent, imply higher expenses at the pump.