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Paul Krugman, Nobel winning economist, had an interesting take on fuel prices. His analysis show that the spike in fuel prices right now is more closely tied to a shortage in world refinery capacity, than it is tied to oil prices. Ukraine has taken out about 10% of the world’s refinery capacity and Trump’s threatens more with the conflict with Iran. Even if oil prices come down, we’re likely to continue to see higher fuel prices for a long while.
Boy Michael N isn’t going to like this news.
Of course that is history, now that the shooting has resumed and the choke point for oil is back in place watch what happens to inflation this month.