One of the clearest signs of financial strain right now may be showing up at the gas pump.

During Walmart's latest earnings call, CFO John David Rainey said shoppers are now buying under 10 gallons per fill-up on average for the first time since 2022, according to Fortune — a small shift that points to a much bigger problem for household budgets.

What's happening?

Rainey said the change suggests many customers, especially lower-income households, are being forced to consider their everyday spending more carefully.

"That's an indication of stress," he said on the call, adding that while higher-income shoppers are still spending steadily, lower-income consumers are "more budget conscious and perhaps navigating financial distress."

The warning comes as gas prices have surged across the country. The national average reached $4.55 last week, up 42% from a year earlier, with every state above $4 per gallon and prices topping $6 in California.

As Fortune noted, the war in Iran has disrupted global supply chains and almost halted oil shipments through the Strait of Hormuz, a key global chokepoint. According to The New York Times and researchers from Brown University, Americans have paid about $44.8 billion above normal for gas and diesel since the war began in February — roughly an extra $190 per household.

Why does this matter?

Gas prices don't just affect road trips. When fuel gets more expensive, the higher costs can ripple across the economy and push up the price of groceries, retail goods, and other essentials too.

According to Fortune, inflation clocked in at 3.8% in April, up 0.6% from the prior month, while consumer sentiment dropped for a third straight month in May to a record low in the University of Michigan's survey.

Walmart's Rainey warned that if fuel prices remain elevated, retailers may eventually pass some of those costs on to shoppers.

"I think it's possible that if fuel prices persist at this level, you may see some upward pressure on average unit retail prices," he said.

What can I do?

In the short term, households feeling the squeeze can look for ways to cut fuel use without making major lifestyle changes. Combining errands, avoiding unnecessary idling, checking tire pressure, and comparing local gas prices before filling up can all help stretch a tight weekly budget a little further.

If public transit, carpooling, walking, or biking are realistic options for some trips, they can also reduce your exposure to volatile gas prices.

And if you're shopping for a vehicle, it may be worth comparing hybrid or electric models, which can offer more predictable fueling costs over time.

Bigger-picture, this moment underscores the value of moving away from dependence on oil markets that can be rattled by conflict and supply shocks. That means expanding cleaner transportation and energy choices, while making sure workers and communities are supported in the transition.

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