Gasoline prices at the pump have seen a big spike, reaching the highest level in either Trump term, and product prices appear to rise faster than underlying crude.
speaker1
speaker2
Crude oil (Brent and WTI) has doubled from ~$65-70 to ~$102-103, while gasoline prices in the US have only increased 15-16%, indicating a slow reaction.
speaker2
The US is a laggard to global product price increases. Observing the rest of the world suggests we will see $4 at the pump more and sooner than otherwise expected.