Oil has spiked past $100 a barrel. Gas is flirting with $4.30 a gallon. The Strait of Hormuz is barely open. Airlines are padding fares with fuel surcharges, and every travel site on the internet is screaming at you to “book now before prices explode.” Here’s what they’re not telling you. When energy prices spike this hard, this fast, something weird happens on the other side of the equation.
Read the full article here