BlockBeats message, August 12: market analysis indicates that falling energy prices helped cool July inflation. Gasoline fell 2.9% month-over-month, while fuel oil dropped 1.7%. But this easing may be temporary.
As crude oil prices have recently risen again and strong refining profit margins have begun pushing up fuel costs, U.S. gasoline is currently averaging $4.03 per gallon—up notably from $3.87 a month ago. This suggests that energy could place new upward pressure on August inflation.
As crude oil prices have recently risen again and strong refining profit margins have begun pushing up fuel costs, U.S. gasoline is currently averaging $4.03 per gallon—up notably from $3.87 a month ago. This suggests that energy could place new upward pressure on August inflation.