The Kobeissi Letter
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Joined June 2015
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BREAKING: Jet fuel prices in the US surge to $4.35/gallon, now up +61% over the last 10 weeks.
Over the last week alone, jet fuel prices have risen by +10% as US oil prices continue to push above $100/barrel.
As a result, US airline fares jumped +23% year-over-year in August, with much of the recent crude oil rally not yet reflected in the data.
We could see a +30% surge in airline fares in September CPI.
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