⛽️🔺March CPI Will Be Sensitive to Energy Spike: Cable FX Macro

• As of March 11, 2026, the national average price for regular unleaded gasoline stands at $3.578 per gallon — the highest level since mid-2024. That’s a blistering +21.8% month-to-date surge from ~$2.937 just one month ago (and roughly +50–55 cents in the past 10 days alone). Weekly jumps of 27–49 cents have been the largest seen since the early days of the Russia-Ukraine war or Hurricane Katrina.

• February CPI (released this week) looked tame: headline +2.4% y/y, core +2.5% y/y — entirely pre-spike. March CPI (due out in early April) will tell a very different story. Year-over-year headline inflation, which had been grinding lower toward 2.4%, is now on track to reaccelerate above 3% (and potentially approach 4% in the following months if the oil shock persists).

• Below, a historical weekly % change chart of national average gasoline prices serves as visual guidance.