The Fuel Surcharge Cascade: From Hormuz to Every American Mailbox
The USPS just announced its first-ever fuel surcharge, joining Amazon, FedEx, UPS, and DHL in a cascade that now touches every package moving through the American economy.
Economy
Gas Hits $4.10. California Diesel Sets an All-Time Record at $7.56.
The national average hit $4.104 on Friday and California diesel reached $7.559 -- an all-time record that eclipses even the 2022 Ukraine-era peak.
The Oil Market Has Split in Two: Physical Barrels at $141, Futures at $109
Dated Brent -- the price for actual physical crude -- hit $141 a barrel on Thursday, while Brent futures settled at $109, a $32 gap that reveals the real severity of the supply crisis.
Senegal Bans Minister Travel as the War's Oil Shock Reaches West Africa
Senegal suspended all non-essential minister travel, citing 'extremely difficult' times -- the first West African government to impose austerity directly from the Iran war's oil shock.
Liberation Day at One Year: The Tariffs Were Struck Down, the Refunds Haven't Started, and the President Just Added More
One year after Liberation Day, the IEEPA tariffs are unconstitutional, $166 billion in refunds are owed, and Trump marked the anniversary by imposing 100% tariffs on pharmaceuticals.
Kenya Has 16 Days of Petrol Left. A New Shipment Is On the Way. April Prices Hold.
Kenya holds 16 days of petrol and 19 days of diesel, secured a new shipment, and promised stable April prices -- a narrower buffer than any East African country has admitted.
JPMorgan Warns of $150 Oil if Hormuz Stays Closed Through Mid-May
JPMorgan sees oil squeezing to $120-130 per barrel near-term and topping $150 if Hormuz shipping stays disrupted into mid-May.
California Diesel: $7.559 a Gallon, the Highest Price Ever Recorded in Any US State
California's statewide diesel average hit $7.559 on Thursday -- an all-time record that surpasses the 2022 Ukraine-era peak by more than fifty cents.
FedEx Freight Surcharge Hits 49.8 Percent for the First Week of April
FedEx's freight fuel surcharge reached 49.8 percent for the April 1-7 week, meaning shippers now pay nearly fifty cents in fuel for every dollar of base freight cost.
The Philippines Boosted Fuel Reserves to 51 Days. The Emergency Remains.
Philippines fuel reserves have risen from 45 to 51 days after a Japanese diesel shipment and diversified sourcing, but the national energy emergency remains in effect and brownouts continue.
Australia's Diesel Shortage Has Not Spread Beyond NSW. 182 Stations Are Still Dry.
The 182 dry diesel stations in NSW remain the crisis epicenter -- the shortage has not meaningfully worsened in other states this week, but has not improved either.
The Iran Oil Sanctions Waiver Expires April 19. The 140 Million Barrels Never Arrived.
The 30-day sanctions waiver to release 140 million barrels of Iranian oil expires April 19 -- Iran snubbed it, buyers stayed away, and the barrels never materialized.
BlackRock's $150 Oil Warning Is Ten Days Old. Nothing Has Changed.
Larry Fink warned on March 25 that $150 oil would trigger a 'stark and steep recession' -- ten days later, Brent holds in the $100-110 range and every escalation risk he cited has intensified.
Goldman's 30% Recession Odds Have Not Budged. They Are Now the Optimist.
Goldman holds recession odds at 30% — now the most optimistic forecaster as Moody's sits at 48.6%.