#fuel-price-hikes

#fuel-price-hikes

"Fresh food and perishables are almost like the canary in the coal mine," when energy prices go up, according to Vidya Mani, an associate professor at the University of Virginia's Darden School of Business.

"A more decentralized energy system, with a growing share of renewables and more market players, is structurally more resilient. Countries that invested in the energy transition are weathering this crisis with less economic damage, as they boost energy security, resilience and competitiveness."

The war has effectively blocked the Strait of Hormuz, the world's most important oil route, since the end of February and cut exports from OPEC+ members Saudi Arabia, the United Arab Emirates (UAE), Kuwait and Iraq.

Australia's economic insulation is no longer guaranteed by geography, as geopolitical unrest in the Middle East can swiftly impact its economy through international energy markets.

Higher inflation expectations will be meaningless if employers still hold the cards in wage setting and their customers retrench. The US labor market is too weak to support large price spikes, making fears over oil prices spiking inflation overblown.

It may be too late for Trump to negotiate from a position of strength with Iran. The conflict has raised the risk of a worldwide recession.

The United States - we produce more oil than we can consume. We're a net oil exporter," Wright said. This comment misses some important context. Some metrics show the U.S. as a net exporter, but for crude oil - the material that's refined into gasoline - the U.S. is a net importer.