Americans Expect 50-Cent Gas Increases This Year

U.S. consumer sentiment fell to 49.8 in April, near a record low.

Year-ahead inflation expectations surged to 4.7% as households brace for higher fuel costs.

Most respondents expect gas prices to rise by about 50 cents over the next year.

Worries over the U.S.-Iran conflict are fueling concerns about oil prices and inflation.

The weakness points to softer household expectations even as spending and labor data remain resilient.