Stock Market’s ‘Denial Trade’ on Russian Invasion Is Buckling
What Does $5 a Gallon Gas Mean for the Average American?
The idea of paying $5 a gallon for gas scares most Americans — at least the ones who don’t live in California, where AAA reports that the price per gallon for gas currently sits at $5.07. “Because the cost of crude oil accounts for about 52% of retail gasoline’s final cost, the price of gasoline generally follows movements in crude oil prices, which followed a similar price path during 2019.” Crude oil prices have, of course, been rising and they could climb even higher due to Russia’s invasion of Ukraine.
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