00:00I think it's a big deal, I mean, if it's sustained, if the higher prices are sustained, I mean, every
00:05$10 a barrel increase in the price will raise the cost of a gallon of gasoline by 25 cents, and
00:12that costs the typical American household 250 bucks a year.
00:16And then that's just the gasoline, you know, obviously this affects diesel, which goes into the price of everything, you
00:22know, anything that's put on a truck, you know, groceries, anything that you get delivered to your door.
00:27So you add that all in, it's about 450 bucks per household over a period of a year.
00:33Now, you know, for many high-income, high-net-worth households, you know, that's no big deal.
00:38It's not going to make a dent in what they do.
00:40But for many lower- and middle-income Americans, that's a big deal.
00:44I mean, they've got to make some hard choices.
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