US drivers lament about spike in gas prices

U.S. average gasoline price jumped 11 cents overnight, prompting consumer complaints and tighter pocketbooks at the pump. The spike signals short-term volatility in energy markets that can add modest upside to headline inflation and pressure discretionary spending, but is unlikely to change sector fundamentals unless the rise persists.

Analysis

U.S. average gasoline price jumped 11 cents overnight, prompting consumer complaints and tighter pocketbooks at the pump. The spike signals short-term volatility in energy markets that can add modest upside to headline inflation and pressure discretionary spending, but is unlikely to change sector fundamentals unless the rise persists.