Republicans promoted the “One Big Beautiful Bill Act” as an affordability lifeline for working Americans, but economists, retailers, and budget analysts say rising fuel costs tied to the U.S.-Israeli war with Iran and ongoing tariff pressures are rapidly wiping out much of the financial relief.
While Americans confront the highest fuel prices in years after the U.S.-Israel war on Iran disrupted global oil markets, fossil fuel giants are reporting surging profits, expanding stock buybacks, and prioritizing shareholder payouts over increased production.