Gas prices at the pump have not risen this dramatically at this time of year since 2007. The last 3 months have seen pump prices soar almost 30%. The last 7 times that gas prices have accelerated this fast, stocks have corrected. Given the plethora of excuse-makers saying hoiw low gas prices were "unequivocally good" for everyone, we can only assume that surging gas prices are "unequivocally bad" for everyone?
Yes, we know that gas prices are still 'relatively' low but that six months of 'tax cuts' did absolutely nothing for the average consumer's discretionary spending as they saved or spent it on surging healthcare costs. Now that prices are soaring again, how will that affect discretionary spending?
This is the fastest Q1 jump off the lows into the summer driving season since 2007...
Hopefully, we are peaking with the seasonals.