Oil is back above $100—but economists say that number isn’t the real threat to the U.S. economy

AI SUMMARY

# Oil Prices Surge Past $100, but Diesel Shortages Pose Greater Economic Risk While crude oil has climbed above $100 per barrel, economists warn that record diesel prices and U.S. refinery capacity constraints—rather than the headline oil price itself—present the real threat to consumer spending and economic growth. Gas now consumes a smaller share of household income than historically, but elevated diesel costs could significantly impact logistics, transportation, and discretionary spending across the economy.