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WSJ What’s News

Surging Fuel Prices Aren’t Curbing Holiday Plans Yet

11 May 2026

Transcription

Transcript generated automatically by AI and may contain errors.

Chapter 1: What is the main topic discussed in this episode?

0.031 - 15.154 Unknown

This is a new era of American innovation. Google is offering free AI training to U.S. small businesses with the Google AI Professional Certificate so they can start using AI to get more done. Learn more at g.co slash American innovation.

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18.07 - 33.97 Luke Vargas

Evacuated ship passengers test positive for hantavirus as they finally head home. Plus, why gas prices are about to get a lot worse for Californians. And Expedia's CEO tells us that consumers may be anxious, but they're still booking trips.

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34.085 - 46.082 Ariane Gorin

Everybody is amazed that demand is holding up as well as it is. And we look at indicators, we look at consumer confidence, we look at fuel prices, we look at air ticket prices. You know, despite those, the demand is there.

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46.122 - 69.403 Luke Vargas

It's Monday, May 11th. I'm Luke Vargas for The Wall Street Journal. And here is the AM edition of What's News, the top headlines and business stories moving your world today. Around 150 passengers from a hantavirus-stricken cruise ship are finally returning home after spending 40 days at sea.

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70.084 - 85.506 Luke Vargas

The ship was allowed to dock in Spain's Canary Islands, where authorities have been coordinating flights for quarantine and isolation. After disembarking, a French and American passenger have both tested positive for the virus, while another American developed mild symptoms.

85.486 - 95.157 Luke Vargas

The WHO's Director General, Tedros Ghebreyesus, oversaw the transfer of passengers in Tenerife and reiterated yesterday that this is not the onset of another pandemic.

95.457 - 96.819 Unknown

This is not another COVID.

Chapter 2: What health concerns arose from the hantavirus-stricken cruise ship?

98.961 - 107.511 Unknown

And the risk to the public is low. So they shouldn't be scared and they shouldn't panic.

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107.643 - 115.772 Luke Vargas

U.S. passengers are arriving in Omaha, Nebraska for monitoring at a national quarantine unit led by medical director Dr. Michael Wadman.

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115.792 - 133.532 Dr. Michael Wadman

We have protocols in the quarantine unit that provide for safe care of these persons, including just all the activities of daily living so that they can have a comfortable stay, but also have it in an area that's protected and limits the spread of the pathogen.

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Chapter 3: Why are gas prices expected to rise for Californians?

133.512 - 141.965 Dr. Michael Wadman

Our facilities have negative airflow rooms, each one individually, negative airflow, as well as filters to limit spread of pathogen.

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142.525 - 162.069 Luke Vargas

Public health officials in states including Virginia, Texas, and Georgia are monitoring other Americans who got off the ship before authorities confirmed the outbreak. Iran is rejecting a U.S. proposal to end the war, which included calls that it dismantle its nuclear facilities, leading President Trump to call Tehran's response totally unacceptable.

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162.93 - 168.277 Luke Vargas

So how close do the two sides come to an agreement several weeks after they first traded peace proposals?

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Chapter 4: How is consumer demand for travel holding up despite rising fuel prices?

168.978 - 172.783 Luke Vargas

Journal correspondent Margarita Stancati has been keeping tabs on their diplomacy.

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172.831 - 192.991 Margarita Stancati

So the two sides have been trading proposals over the last few weeks. Iran responded to the latest U.S. proposal recently, and it essentially said this is how the fighting could end. There will be this gradual reopening of the Strait of Hormuz to commercial traffic so long as the U.S. lifts its blockade. But it's also saying we don't want to talk about the nuclear program right now.

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193.432 - 212.053 Margarita Stancati

We will negotiate that, but we want to do that separately over the next 30 days. And the response from Trump has been that this is completely unacceptable. So we're still waiting to see how the Iranians will respond to that. But on the nuclear issue specifically, Iran has shown some degree of flexibility, some opening.

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212.434 - 226.21 Margarita Stancati

It has proposed to have some of the highly enriched uranium diluted and the rest of it transferred to a third country. So it is possible that we will eventually see an agreement on that front as well, but not right now.

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229.598 - 256.286 Luke Vargas

Fading hopes of a peace deal are reigniting a climb in oil futures, with Brent and WTI contracts up around 2% today. According to AAA, Americans on average are paying $4.52 a gallon for gas, with drivers in California hardest hit. Prices there are north of $6.15 a gallon and likely to rise in a state that's reliant on imports for three-quarters of the oil it consumes.

257.046 - 274.523 Luke Vargas

A tanker carrying Middle Eastern oil just stocked in Long Beach, but according to market intelligence firms Vortexa and Kepler, it'll be the last one to do so for months, as some Asian fuel exporters have chosen to keep supplies at home. Tankers have been transporting fuel to the West Coast from the Gulf Coast and Alaska,

274.756 - 296.664 Luke Vargas

after Washington relaxed rules on foreign vessels carrying goods between American ports, though a Chevron spokesman said that a lack of available vessels is slowing the amount of relief possible from rerouting supplies. Meanwhile, to cushion against pricier gas nationwide, U.S. Energy Secretary Chris Wright is weighing a suspension of the roughly 18 cents a gallon federal gas tax.

297.285 - 300.409 Luke Vargas

Here he was when asked about that proposal on NBC's Meet the Press.

300.389 - 302.152 Ariane Gorin

We're open to all ideas.

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