Oil has gone down, though, and the primary driver for the volatility was the tariffs. It’s not like there was a big change in production or something like the pandemic causing millions of people to change their driving habits.
Again, the question is simply what non-tariff factor would explain non-trivial prices over a month? If there isn’t one, it doesn’t seem unfair to attribute the increase to a huge policy change.
Again, the question is simply what non-tariff factor would explain non-trivial prices over a month? If there isn’t one, it doesn’t seem unfair to attribute the increase to a huge policy change.