An Oil Price Surge Could Hurt Consumer Spending, The Economy
But a prolonged surge in gasoline prices after the attacks on oil production facilities in Saudi Arabia could undermine that phenomenon and increase the risk of a recession. “It’ s clearly not a positive, and it adds a negative to the outlook,” said Steve Blitz, chief United States economist at T.S. Monday’ s jump is expected to add roughly 20 cents to gas prices, which…
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