Oil price shocks
Rising gas prices are always a headache to deal with. But they can often pose much greater dangers than just forcing you to pay more at the gas station. Rapid increases in oil prices are often due to what is called a supply shock — specifically, a negative supply shock. Here, the supply of oil seems to dry up, forcing prices to soar very quickly because the demand for it has not gone down. And when there’s an abrupt jump in oil prices, it tends to hurt consumer confidence.
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