Higher Gas Prices Impacting Tax Refunds for Americans
Rising gas prices, driven by conflict in Iran affecting oil supply routes like the Strait of Hormuz, have cost American consumers $19 billion and may be offsetting increased tax refunds. The total amount refunded to U.S. taxpayers rose by $43 billion year-over-year.
Tickers: $BAC
Topics: consumer spending gas prices Iran war oil supply tax refunds