"There’s a psychological wall at $4. Stations will sacrifice some margin to stay at $3.99 because they know how consumers react- but once costs force their hand, prices jump above it- and that could happen soon," GasBuddy Patrick De Haan posted online, MarketWatch reports.
Monday?
#InflationNation
“The resilience of the global economy is now being tested,” the OECD said in a report, The Times reported.
“Higher energy and fertilizer prices and the unpredictable nature of the evolving conflict in the Middle East will add to inflation and weigh on demand,” the OECD said.
#InflationNation
The housing market was poised to turn the corner this year.
Then Netanyahu and Trump decided a war with Iran was a good idea.
Americans who serve in the armed forces have died and an economic shockwave is going to reverberate around the country for a long time.
#RememberTheFallen
#InflationNation
"This provides a huge opportunity for Democrats to make major strides in the midterms by focusing on issues that are traditionally more Republican issues, like national security, the economy and immigration," Doug Farrar, a Democratic strategist, told Reuters.
#EpsteinWar
#InflationNation
#ICE
"For the first time since Gallup began measuring the life evaluation of the American workforce, more U.S. workers are struggling in their lives (49%) than thriving (46%). This contrasts with 2022 and 2023, when the reverse was true," Gallup reported.
#InflationNation
Fill it up - now it’s a financial decision 😅⛽
#GasCrisis #InflationNation #FuelCosts #EconomicReality #CostOfLivingCrisis #SatireArt
"While inflation has ticked up for many imported items since the tariffs were implemented, lower energy costs largely balanced out much of that increase," writes Bryan Mena.
"The war with Iran looks set to erase that buffer."
#IranWar
#EpicMiscalculation
#InflationNation
In December, the Fed forecast inflation would cool to 2.6% by the end of 2026, but Inflation was already rising -- before the Iran War -- with core prices rising 3.1% in January from a year earlier, biggest increase in more than two years, AP reported.
#GasPrices
#SupplyChain
#InflationNation
"In some US states, diesel prices had already surpassed the $5 mark. Prices for residential heating oil, which is effectively interchangeable with diesel, have also climbed above $5, according to the US Energy Information Administration," Bloomberg reported.
#IranWar
#InflationNation
“This may be the last year-over-year print we see around 2.4% for a while as CPI potentially moves back towards 3% or above,” Skyler Weinand, chief investment officer at Regan Capital, wrote shortly after the data was released, U.S. News reported.
#InflationNation
“Airlines never met a higher fare they didn’t want,” Scott Keyes, the founder of flight-deal company Going, previously known as Scott’s Cheap Flights, tells CNBC.
#IranWar
#InflationNation
Goldman analysts in a note on Thursday said they now assume 21 days of low Strait of Hormuz (SoH) oil flows at 10% of normal levels followed by a 30-day gradual recovery, compared with their earlier expectation of a 10-day disruption, Reuters reported.
(It's Day 12 of Iran War)
#InflationNation
“Prices right now are still in panic mode. There is a lot of emotion, fear, uncertainty built into the price that we see,” said Pavel Molchanov, senior investment strategist at Raymond James.
#InflationNation
“With oil prices up roughly $30 in recent weeks — and potentially heading toward triple digits — investors are far more focused on how the conflict feeds into inflation over the months ahead,” wrote Principal Asset Management’s Seema Shah in a note, CNBC reported.
#InflationNation
The average price of U.S. gasoline reached $3.48 a gallon, according to data from the AAA motor club. That is a nearly 17 percent increase since the first U.S.-Israeli attacks on Iran on Feb. 28. Gas hasn’t been at these levels since 2024, The Times reported.
#InflationNation
“As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week,” predicts Patrick De Haan with the fuel tracking website Gasbuddy.com, The Minnesota Star Tribune reported.
#EpsteinWar
#InflationNation
"We are seeing resilience tested again by the new conflict in the Middle East," IMF Managing Director Kristalina Georgieva said today in Tokyo, Reuters reported.
"My advice to policymakers in this new global environment is think of the unthinkable and prepare for it."
#InflationNation
The last time oil prices topped $100 per barrel was after Russia invaded Ukraine in 2022, CNBC reported.
#InflationNation
Even if oil prices stayed at current levels, Patrick De Haan, head of petroleum analysis at Gas Buddy, expects retail prices could gain another 20 to 25 cents a gallon, which could push the nationwide average to $3.40, The Guardian reported.
#InflationNation
The weaker than expected jobs report comes as Americans are already anxious about the high cost of living. Those affordability concerns will likely be amplified as the war in Iran has triggered a sharp rise in energy prices, NPR reported.
#JobCuts
#InflationNation
#AI
Retail sales declined 0.2% in January from the prior month, the Commerce Department said Friday, the biggest decline since May. January’s reading came in below expectations of 0%, according to a poll of economists by data firm FactSet, XNN reported.
#InflationNation
Retail gasoline prices in the U.S. have jumped nearly 27 cents since last week to $3.25 per gallon on average, according to the motorist group AAA, CNBC reported.
The last time gas prices made a similar jump was in March 2022 after Russia invaded Ukraine, the group said.
#InflationNation
“If this were to go on for weeks or months, you can’t stop 20%-30% of the world’s seaborne oil and not have some massive reaction,” says Lucas White, lead portfolio manager for GMO’s Resources, Climate Change, and Quality Spectrum strategies, Morningstar reports.
#InflationNation
"The reforms proposed and already made to aid the data centers will have implications for the health and safety, as well as economic well-being of citizens in every state. Both state and federal policymakers have a role," writes Mike Jacobs.
#DataCenters
#ElectricBill
#InflationNation
The national average price of unleaded gas hit $3.11 per gallon on Tuesday, up 11 cents overnight, according to AAA.
It was the biggest single-day spike since March 4, 2022, according to GasBuddy analyst Patrick De Haan, Axios reported.
#InflationNation
U.S. Court of Appeals yesterday shot down the Trump administration’s attempt to delay refunding billions of dollars’ worth of tariffs the Supreme Court ruled are illegal, but until Trump returns our money, federal debt is piling up by the millions in interest payments alone.
#InflationNation
“But most shipowners were avoiding transits through the strait of Hormuz after insurers cancelled the war risk coverage for vessels in certain areas of the region,” Sheel Bhattacharjee, head of freight pricing in Europe at Argus Media, told CNBC by email.
#InflationNation
The gains came after Iranian drones struck the largest oil refinery in Saudi Arabia and major gas facilities in Qatar. Iranian media also reported that a fuel tanker flying the Honduran flag caught fire in the strait after being hit by two drones, YNet News reported.
#InflationNation
"The moment the market just gets that headline that, you know -- the strait is closed, there's no more crude flowing and so on -- that's when panic is going to set in," said Amena Bakr, head of Middle East and OPEC+ research at Kpler trade intelligence company, RFE/RL reported.
#InflationNation
“Tankers are starting to build by the Strait of Hormuz, but nothing seems to be going through at the moment – tankers are definitely spooked,” said Matt Smith, oil analyst at energy consulting firm Kpler, CNBC reported.
#InflationNation
#EpsteinWar
