Economic reports revealed on Saturday (May 30, 2026) that American consumers have incurred approximately $59 billion in additional fuel costs since the onset of military escalation with Iran, effectively wiping out the average tax refund for households this year. According to economic experts, this added expense equates to roughly $450 per household, primarily driven by the rising costs of gasoline, diesel, and jet fuel. Major financial institutions anticipate that these energy-related inflationary pressures will negatively impact consumer spending growth. In a related context, the US administration asserted that de-escalation and the resumption of normal navigation in the Strait of Hormuz would lead to a sharp decline in gasoline prices and lower inflation. Meanwhile, President Donald Trump downplayed concerns over rising prices, despite the average price per gallon hitting record highs with a 40% increase compared to the previous year.