Governor Gavin Newsom criticized President Donald Trump's handling of the Iran war as the conflict surpassed the 100-day mark, pointing to rising inflation and fuel costs. Newsom's Press Office stated in a post on X that Americans have incurred an extra $55.6 billion in fuel costs since the war began. The office highlighted that rising inflation is eroding wages, with Americans facing over three months of increased costs at the pump and for groceries.

Gas prices climb nationwide

GasBuddy analyst Patrick De Haan reported price increases across several states, including Florida, Ohio, and Utah. He attributed the hikes to a "routine price cycle" elevated by the US-Iran situation. In Ohio, prices rose to $4.39 per gallon in Columbus and $3.99 in other areas, while Florida saw prices reach $3.99 per gallon.

According to data from the American Automobile Association (AAA), the national average price for a gallon of gas stood at $4.1640 on Monday. California continued to experience prices above $5 per gallon.

Shipping and airspace disruptions

The conflict has impacted multiple sectors beyond fuel. The closure of the Strait of Hormuz has contributed to a surge in container shipping costs. The spot rate for a 40-foot container from Asia to the US West Coast increased by over 20% in the past week.

Additionally, Iran, Iraq, and Syria announced airspace closures following missile strikes between Iran and Israel. President Trump had previously advised Israeli Prime Minister Benjamin Netanyahu against further strikes, advocating for a diplomatic resolution.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei used a quote from William Shakespeare's play Macbeth on Monday to ridicule Treasury Secretary Scott Bessent's claim about seizing $1 billion worth of Iran's cryptocurrencies. Baqaei posted a video of Bessent from the Reagan National Economic Forum last month, where the Treasury Secretary said the U.S. had seized "about a billion dollars" in Iran's digital assets. "Just outright grabbed the wallets. Some of them may be typing in right now and might not realize that their wallet has been grabbed," Bessent had said.

'Dwarfish Thief' In 'Giant's Robe'

Baqaei responded with a line from Shakespeare's tragedy: "Now does he feel his title Hang loose about him, like a giant's robe Upon a dwarfish thief." The quote is spoken to describe the failing rule of Macbeth, who murders his king to seize the throne. The line suggests the character lacks the moral stature to rule, wearing a robe that belongs to a true king.

Iran's Crypto Landscape

Iran has relied on cryptocurrency rails to evade sanctions from the U.S. and its allies. Blockchain research firm Chainalysis estimates that Iranian cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps accounting for roughly half.

The Treasury Department has sanctioned multiple cryptocurrency wallets linked to Iran, in coordination with stablecoin issuer Tether (CRYPTO: USDT) and blockchain network Tron (CRYPTO: TRX). Iran has also proposed an insurance-based platform that uses cryptographic verification to secure cargo transit through the Strait of Hormuz, with payments settled in Bitcoin (CRYPTO: BTC).