Gas prices could drain half of Trump’s tax cuts for average Americans

Shell station
A sign showing the price for gasoline is displayed at a Shell gas station. Photo: David Paul Morris/Getty Images

Gas prices are reducing the benefits Americans are getting from President Trump's tax cuts, reports USA today.

The big picture: "President Trump’s decision this week to withdraw from the Iran nuclear deal and reinstate sanctions against that oil-rich country could constrain global supplies, further pushing up crude and gasoline prices," writes USA Today.