Anonymous12 days ago
The Iran war's closure of the Strait of Hormuz has driven U.S. gasoline prices up by more than a dollar per gallon since late February 2026, with Oxford Economics projecting that households will spend roughly $740 more on fuel this year — nearly dollar-for-dollar erasing the average $748 tax refund increase from the One Big Beautiful Bill Act. Lower-income households, which spend nearly twice the share of their budgets on gas compared to wealthier families, face the steepest net losses, raising questions about whether the administration's signature tax achievement can survive its wartime energy policy.