Rising oil prices may wipe out effects of Trump’s ‘big beautiful bill’
By CNBC
March 10, 2026, 8:01 AM EST
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Gas prices at a Shell Station on Foothill Blvd could offset the economic benefits of tax cuts if oil prices stay elevated. Analysts predict consumers may spend $150 billion more at the pump due to the rise in oil prices, potentially nullifying the economic boost from tax refunds. The impact of higher oil prices on consumer spending and the economy is being closely monitored by experts. (Source: CNBC)
