The Effects of High Oil Prices
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The Bottom Line
Gasoline prices have risen in response to Persian Gulf oil crisis; inflation risk increases if oil stays above $100 per barrel.
How This Affects You
If oil prices remain elevated above $100 per barrel, inflation could accelerate, reducing purchasing power on groceries, utilities, and other goods for American households.
AI Summary
Chief economics correspondent Ben Casselman examines how gasoline prices have shifted in response to an oil crisis in the Persian Gulf and assesses inflation risks if crude remains above $100 per barrel. The analysis connects petroleum supply disruptions to consumer fuel costs, a direct transmission mechanism that affects household budgets and broader price pressures across the economy. Oil price spikes historically correlate with inflation upticks, making the trajectory of crude prices a key indicator for Federal Reserve policy and consumer purchasing power. Casselman's reporting provides readers with a framework for understanding how global energy markets translate into real-world economic consequences at the pump and checkout counter.
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<p>The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins </p><p>The towns that are the bulwark of China’s energy security can, at a moment of <a href="https://www.theguardian.com/world/2026/mar/23/iran-war-energy-crisis-1970s-oil-shocks-fatih-birol-iea">global crisis</a>, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.</p><p>A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal.</p> <a href="https://www.theguardian.com/world/2026/mar/30/china-teapot-refineries-crude-oil-iran-war">Continue reading...</a>
EnvironmentEPA approves sale of higher-ethanol fuel in bid to lower gas prices - The Guardian
<a href="https://news.google.com/rss/articles/CBMiigFBVV95cUxPdXRwME5qdGJOQXljWDRJbWV1R1lIbDIwaWpubERDZi1Mc2NGMWdMMlZSeU51ekEweUxyallYRnhNWlZ2U0xDdHZHdTQtb01VdGZfZ3E5eGVnOExTaGVwV3lIeEYxVWRDRWJTMm16YXZsakROWndkNC1OOGswajhSaXY3SFBubk9Hb2c?oc=5" target="_blank">EPA approves sale of higher-ethanol fuel in bid to lower gas prices</a> <font color="#6f6f6f">The Guardian</font><strong><a href="https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZjbmt0TXpZd1NoRUtEd2lWNk5IZUVCRkc3UXBuRUpmMUVDZ0FQAQ?hl=en-US&gl=US&ceid=US:en&oc=5" target="_blank">View Full Coverage on Google News</a></strong>
EnvironmentEPA approves sale of higher-ethanol fuel in bid to lower gas prices
<p>Higher blend has been prohibited in warm weather because of concerns it could worsen smog</p><p>The US Environmental Protection Agency said Wednesday that it would temporarily allow widespread sales of a higher ethanol gas blend in a move that they hope will tamp down consumer prices that have soared since the Iran war began.</p><p>The higher blend has been prohibited in warm weather because of concerns it could worsen smog.</p> <a href="https://www.theguardian.com/us-news/2026/mar/26/epa-higher-ethanol-fuel-gas-prices">Continue reading...</a>
EnvironmentEPA approves sale of a higher-ethanol fuel to try to lower gas prices - AP News
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GlobalLahore beats Hyderabad in Pakistan Super League opener as high fuel prices keep fans at home - AP News
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FinanceOil, stock trading spikes before Trump's Iran remarks spark insider trading suspicions
Thousands of oil contracts -- a far higher volume than normal -- were traded 15 minutes before Trump pledged to halt strikes on Iranian energy infrastructure, sending prices tumbling. Traders who bet on prices dropping ahead of the announcement would likely have profited from Trump's sudden reversal, prompting analysts to question whether some market participants had acted on prior information. FRANCE 24's Yinka Oyetade speaks with Meziane Lasfer, Professor of Finance at Bayes Business School, City University.
Brent crude hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’
<p>Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict</p><ul><li><p><a href="https://www.theguardian.com/business/live/2026/mar/30/brent-crude-rises-trump-oil-iran-war-starmer-business-leaders-emergency-measures-rachel-reeves-g7-business-latest-news-updates">Business live – latest news</a></p></li></ul><p>The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “<a href="https://www.theguardian.com/world/live/2026/mar/30/iran-war-live-updates-trump-oil-kharg-island-houthis-israel-lebanon-middle-east">take the oil in Iran</a>”, sending Asian stock markets tumbling.</p><p>Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize <a href="https://www.theguardian.com/world/2026/mar/11/why-irans-vital-kharg-island-oil-hub-is-still-untouched-by-us-israel-bombers">the Iranian export hub of Kharg Island</a>.</p> <a href="https://www.theguardian....
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