Rising Gasoline Prices Fuel Fresh Inflation Fears in the U.S.

A surge in energy costs is expected to drive overall U.S.

consumer inflation higher, with September numbers seen at 0.6% on a monthly basis by economists polled by Reuters.

The official CPI data for September is due out later today.

Gasoline prices in the United States went up by 7.1% last month, with the latest daily average national price at $4.3413 per gallon, according to AAA.

This is close to what the average was a month ago, with the difference at $0.028 per gallon.

Diesel prices, however, remain stubbornly high, at above $6 per gallon, although… Home Oil Prices Oil Futures Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Geopolitics Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Company News Breaking News Premium Articles My Account Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S.

Blends WTI Crude • 11 mins 95.45 +1.31 +1.39% Brent Crude • 11 mins 106.7 +0.96 +0.91% Murban Crude • 16 mins 110.6 -1.67 -1.49% Natural Gas • 11 mins 3.296 +0.013 +0.40% Heating Oil • 11 mins 4.959 +0.025 +0.50% Gasoline • 11 mins 3.258 +0.008 +0.23% Click Here for 150+ Global Oil Prices Gasoline • 11 mins 3.258 +0.008 +0.23% Heating Oil • 11 mins 4.959 +0.025 +0.50% WTI Midland • 5 hours 95.24 +0.42 +0.44% Opec Basket • 1 day 112.3 -1.73 -1.52% Indian Basket • 7 days 121.1 +3.47 +2.95% Click Here for 150+ Global Oil Prices A surge in energy costs is expected to drive overall U.S.

consumer inflation higher, with September numbers seen at 0.6% on a monthly basis by economists polled by Reuters.

The official CPI data for September is due out later today.

Gasoline prices in the United States went up by 7.1% last month, with the latest daily average national price at $4.3413 per gallon, according to AAA .

This is close to what the average was a month ago, with the difference at $0.028 per gallon.

Diesel prices, however, remain stubbornly high, at above $6 per gallon, although they are off their all-time high of over $6.50 per gallon.

Another Reuters poll suggested that well over two-thirds of Americans, or 78%, are blaming Trump policies for the rise in the cost of living.

Among specific policies, respondents in the poll noted the war in Iran and tariffs on imports.

That's what they feel every day,” according to Sung Won Sohn, professor of finance and economics at Loyola Marymount University, who spoke to Reuters.

“Many voters are at the lower leg of the K-shaped economy.

They are suffering because of higher energy and food prices, and I assume that will have an impact on the election results, as a lot of people seem to think.” The K-shaped economy concept describes a situation where one part of the economy grows while another shrinks, with the different parts essentially moving in opposite directions.

inflation, Reuters reported that the reading for the 12 months to September stood at 3.6%, significantly higher than the Fed’s 2% target.

Core inflation, which excludes energy and food prices, was also higher than the Fed’s target for the 12 months to September, but at a much more moderate 2.4%.

Oil Prices Climb Above $106 as Iran Threatens More Tanker Attacks OPEC Sees Oil Demand Growth Surging to 2.6 Million Bpd in 2027 Argentina Takes Falklands Oil Fight to International Tribunal Leave a comment Most Popular Saudi Arabia Cuts Europe Off From October Crude as Gulf Exports Surge The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.

Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.