Inflation adjusted gasoline prices in the US have soared in the past four months. The inflation-adjusted price for a gallon of unleaded is up over $0.50 since the end of June and has rarely been higher than current levels.
- Middle East crises are often associated with major swings in the price of gasoline.
- Gasoline price spikes also have often occurred prior to an economic downturn.
Middle East instability (e.g. Arab spring) and Middle East tensions (e.g. Iran) are ongoing.