Oil prices have risen to more than $100 a barrel amid escalating conflict with Iran, pushing fuel prices up by more than 20% in just one month. Of course, this is bad news for U.S. consumers. But could it be good news for retirees? The latest estimates from the Senior Citizens League call for a 2.8% Social Security COLA in 2027 — the exact same raise beneficiaries received this year. But this estimate was made before the Iran situation disrupted global oil supplies. And there’s a chance it could make the 2027 COLA much higher.