Gas Prices Crushing Wallets

Gas prices are soaring, straining wallets across the country as Middle East tensions drive up fuel costs—and everything else. The Cleveland Fed’s Beige Book shows business activity boosted by data centers, but hiring slows as companies brace for inflation. Manufacturers and farmers face steeper bills on fertilizer and petro-products, triggering a ripple effect across the economy. Consumers are cutting back, retailers report softer sales, and more people are turning to credit cards—sometimes digging into debt—to cover essentials. Lower-income households and those without college degrees are hit hardest, with consumer sentiment at a multi-year low. Crude inventories are plummeting, raising alarm bells. In Ohio, lawmakers are even considering a gas tax pause as Americans feel the squeeze on every trip to the pump and every grocery run. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/473b5ec01fb58523