Families face higher costs as back-to-school season nears(CBS NEWS) – Sources from CBS say that as back-to-school season approaches, families will face higher prices for supplies and other costs for the upcoming academic year, a new analysis found. Yet gas prices have flared in July amid renewed conflict in the Middle East. Gas prices over time On Jul 28, 2026, the average cost of gas nationwide was $4.1 per gallon. Many school essentials, such as pens, markers, notebooks and glue, are manufactured overseas, making them subject to higher tariffs. Half of families plan to cut back on household expenses to cover those costs, according to Deloitte.