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Fortune
Fortune
Eleanor Pringle

JPMorgan strategist says oil price surge 'doesn’t seem worth losing sleep over in 2023'

David Kelly, chief global strategist of JPMorgan Asset Management, during the Bloomberg Invest event in New York, US, on Wednesday, June 7, 2023. (Credit: Jeenah Moon/Bloomberg - Getty Images)

Prices at the pump are among the most noted costs for American families: If prices slump there's a rush to forecourts; if they spike higher it's the topic of conversation.

So it's no surprise that a 10.6% rise in gasoline prices in August—which in turn pushed up core inflation by 0.6%—might be causing a stir; after all, an estimated 84.1% of the U.S. population holds a license.

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