Can someone explain these prices?

April 5, 2026

AI Summary

5 min read

Listeners notice sticker shock on everyday items: gas over $4 a gallon, lattes nearing $10, milk around $4. Host John Gwen Hill explores these rises with experts, tracing them to global markets, weather disruptions, and supply chain dynamics rather than conspiracies or greed alone.

Gas prices tied to global oil shocks

Sam Ori, executive director of the Institute for Climate and Sustainable Growth at the University of Chicago, explains that over half the pump price comes from crude oil set in the global market. Taxes, distribution, and oil company profits make up the rest. Recent Middle East tensions, like potential disruptions in the Strait of Hormuz carrying a fifth of world oil, echo past events such as the Iraq War or Libyan Civil War but at larger scale—possibly 10-15 million barrels a day affected.

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What you'll learn

1 (01:05) **Listener Price Shocks** - Complaints on youth sports ($400/month), diesel, $27 Domino's pizza, soaring groceries
2 (02:08) **Episode Setup** - Host vows to investigate why everyday items cost more, starting with gas
3 (02:26) **Gas Crisis Intro** - US average over $4/gallon, highest since 2022
4 (02:49) **Sam Ori on Gas Pricing** - Over 50% from global crude oil, plus taxes, distribution, oil profits
5 (03:53) **Geopolitical Spikes** - Iraq War and current Middle East conflicts drive instant pump price jumps
6 (04:15) **Rockets and Feathers Effect** - Prices rocket up on crude hikes but drift down slowly due to station inventories and weak consumer pushback
7 (05:57) **Global Market Link** - Drone strikes or disruptions anywhere (e.g., Hormuz Strait) hit US via interconnected trade

+ Full timestamped outline available in the app

Show Notes

From the gas station to the café to the grocery store, we break down why things cost so much these days.

This episode was produced by Hady Mawajdeh, edited by Avishay Artsy, fact-checked by Melissa Hirsch, engineered by David Tatasciore, and hosted by Jonquilyn Hill.

A customer fills up a truck at a gas station. AP Photo/Jenny Kane.

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