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Charlie Bilello: U.S. gas prices hit highest since July 2022
Charlie Bilello, chief market strategist at Creative Planning, highlights that gas prices in the U.S. have risen to $4.54 per gallon, reaching their highest point since July 2022.
According to Bilello, this 52% increase over the past 10 weeks—from $2.98 to $4.54 per gallon—marks the largest surge seen in the past 30 years.
Bilello previously noted that U.S. gas prices had surged 49% over nine weeks to $4.43 per gallon, also reaching a high last seen in July 2022, in a recent article. He has also discussed the Federal Reserve’s $9 trillion money supply expansion under Chair Jerome Powell, questioning explanations for persistent inflation in a separate analysis. Both topics have contributed to conversations about the trajectory of consumer prices.
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