I am interested in understanding the cost to the US economy due to elevated fuel prices, and its flow on impacts in the economy. My base assumptions are that higher prices lead to less expenditure and then onto lower production of goods and services. I know this will need to be a back of the envelope calculation, especially withing secondary flow on effects.
What is the approximate economic impact on the US economy from elevated fuel prices per day?
byu/Briloop86 inAskEconomics
Posted by Briloop86