The Economic Impact of Higher Oil May Be Smaller Than Feared

Less than feared

The US gasoline national average retail price has risen above $4 per gallon for the first time since 2022... It's the kind of price level that typically has triggered political alarms inside the White House (and Congress). Yet the usual economic fallout is missing. Demand remains resilient, delinquencies are stable, and energy’s share of spending keeps falling, suggesting this oil shock may be far less disruptive than feared.