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The Economic Times

Economy / The Economic Times

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Gas at $4: Americans cut back on discretionary spends as fuel bills mount

Americans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting back on non-essential purchases like clothing and furniture. While some retailers see resilience, lower-income customers are noticeably reducing spending. Economists anticipate further retrenchment as tax refunds diminish and the cumulative impact of higher prices is felt across budgets.

7 Jun 2026 9:56 am