""We'll probably start to see motorists be impacted by the sanctions at the pump in the next couple days and it might take five days for that to be fully passed along,""
""Russia will feel pressure to come to the table in light of the new developments or President Trump may react when he sees oil prices rising to levels that become uncomfortable, so I don't think this is going to be very long-lasting,""
U.S. sanctions on Russia's oil industry triggered a 5.8% intraday jump in U.S. benchmark crude to $61.91 per barrel. Analysts say higher crude will likely increase U.S. gasoline prices within days as costs are passed to motorists. Patrick De Haan said motorists may feel pump impacts in a couple of days and full pass-through could take about five days. Oil had been relatively low recently, with benchmark crude falling below $57 and U.S. gas averages dipping under $3. Higher energy costs could reverse recent disinflationary trends by raising prices across goods and services.
Read at Fast Company
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