Bob Pittman

Well, what's interesting, actually, is that physically, you know, well, you know, U.S.

consumers are basically going to be paying spot prices for gasoline.

So they actually will be paying these prices rather than June delivery, right?

We all consume in physical spot markets, even though the futures price is trying to continue to handicap this forward.

So, yeah, you're going to see national average prices at this pace easily outstrip $5 a gallon.

on route to $6 a gallon should this continue by June easily.

And I think that's just gasoline.

Diesel at this stage is trading at a decent premium to that.

So you're going to see all time.

You've already seen kind of all time highs reached in California.

You're going to see that across the entire continent of the United States.

Yeah, where this morning it looks like $4.13 is the national average per AAA.

And I wanted to talk to you, obviously you focus on oil, but I'm sure you've thought quite a lot about the way this ripples around the economy.

Let's put C5 up on the screen.

This was some reporting from the Wall Street Journal about the warnings.

that the Trump White House is fielding about the Iran war's economic hit, some of these warnings coming from oil executives.

And we can put C6 up on the screen as well.

We had a relatively hot inflation report last Friday.

U.S.

inflation tripled last month based on record spike in gas prices.