Your Money Minute Gas Prices Spike 3/17/26
Mar 17, 2026
A quick rundown of a sudden gas price jump and how an 80-cent rise affects SUV fill-ups. A look at core inflation ticking up to 3.1% year-over-year. Discussion of how energy shocks could squeeze incomes and slow growth. Political perspectives linking higher fuel costs to global conflict.
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Rapid Gas Price Spike After U.S. Attack On Iran
- Gas prices spiked sharply after the U.S. attack on Iran, driving oil prices higher nationwide.
- Within 17 days prices rose 80 cents per gallon, raising a fill-up for an 18-gallon SUV by about $14.
Velocity Of Pump Price Increases Matters
- The quick velocity of the pump-price move is notable and alarming to market watchers.
- CNBC cited a concrete consumer impact: an extra $14 per fill-up for the average SUV with an 18-gallon tank.
Energy Price Rise Could Reignite Inflation And Slow Growth
- Rising energy costs risk increasing core inflation and eroding real incomes, which could stall growth.
- Rick Santelli noted year-over-year core PCE at 3.1%, the highest since March 2024, and others warned growth could slow if prices persist.