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ElwoodBlues · M
Seeing gas prices spike up 50% in 3 months!
And it gets worse!!
High energy prices, specifically oil price shocks, have been a contributing factor to roughly 4 to 6 major U.S. recessions in the last 50 years. Nearly all post-World War II recessions saw preceding oil price spikes, with major examples including the 1973–75 oil embargo, the 1979–80 energy crisis, the 1990–91 Gulf War recession, and the 2007–2008 financial crisis.
Oil Prices Spike, National Average Up Nearly 30 Cents in One Week
April 30,2026
April 30,2026
And it gets worse!!
High energy prices, specifically oil price shocks, have been a contributing factor to roughly 4 to 6 major U.S. recessions in the last 50 years. Nearly all post-World War II recessions saw preceding oil price spikes, with major examples including the 1973–75 oil embargo, the 1979–80 energy crisis, the 1990–91 Gulf War recession, and the 2007–2008 financial crisis.