$2 petrol prices likely here to stay, as government looks to new instant tax deduction

Energy stocks lag, as oil prices remained volatile around supply concerns in the Strait of Hormuz, even as petrol prices eased, though still well above last year’s levels. Market analyst Evan Lucas unpacks what it all means for households and investors, as attention also turns to the federal government’s new $1,000 instant tax deduction set to benefit more than six million workers. Mark Chapman from H&R Block explains who gains from that, how it works, and when the savings will flow through.