Iran war, oil price surge worsen K-shaped economy, say economists [CNBC]
Chevron Corporation (CVX)
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Source: CNBC
Higher gasoline prices have an outsized impact on lower-income households, exacerbating the so-called K-shaped economy, said economists. “Higher gasoline prices act like a regressive tax, as lower-income households devote a higher share of their budget to energy,” said Mark Zandi, chief economist at Moody's. In this article A sign displays the prices of unleaded gasoline at a Chevron gas station in Palo Alto, California, US, on Tuesday, March 10, 2026. David Paul Morris | Bloomberg | Getty Images The war in Iran — and the accompanying spike in oil and gasoline prices — risks exacerbating the so-called K-shaped economy , economists said. The term, which emerged during the Covid-19 pandemic, uses the letter K to illustrate diverging economic experiences: higher-income households do better and better, forming the upward arm, while lower-income households fall further behind on the downward arm. Economists said a rise in oil and gasoline prices acts as a tax on household sp
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