Consumers were pessimistic before the war. Now what?

March 9, 2026·25 min·2 clips

Princeton's Julian Zelizer on 1973 gas lines, siphoned tanks, and why the U.S. flipping from oil importer to exporter still doesn't protect drivers.

Brent crude crossed $100. Kimberly Adams starts with oil markets reacting to the war in the Middle East after more than a week of delay. Gas prices were already climbing. Catherine Rampell comes in to explain how much of that pain has hit the pump and how much still depends on where oil goes next. The tone is careful, because oil is both a market story and a household bill. Nobody gets a clean answer on price. Sentiment picks up from there. Daniel Ackerman's package follows consumer expectations from inflation worries to the decisions people make about cars, durable goods, and smaller treats. Expectations can turn into their own pressure. Joanne Hsu says a sustained burst of demand can push prices up, which is exactly the loop economists watch. Timing matters. February's survey had consumers expecting inflation to beat wage growth next year, but that was before the war. Next month's data may look different. Tuan Nguyen says an oil price spike or Middle East conflict can change consumer thinking right away. Morning Consult saw the shift fast. Kayla Bruhn says people had already bought gas, noticed higher prices, and felt worse about the economy that same day. History keeps the panic in check. Hsu notes that after Russia invaded Ukraine and oil prices jumped, the consumer reaction faded once other worries came back. Then Adams turns to ube, the violet yam landing in lattes, pastries, cocktails, and more restaurant menus. Ilayna Pang keeps that story economic too, tracing ube's growth and what it asks of the supply chain.

As heard by us

A clear Marketplace briefing on oil, gas prices, inflation expectations, and the consumer mood, with a sharp supply-chain detour into ube.

Marketplace treats the oil shock as a household balance-sheet story. Kimberly Adams starts with Brent crude's jump and the gas-price pain already showing up at the pump, then uses Catherine Rampell and consumer sentiment reporting to trace how a war-driven energy jolt can feed…

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After oil hit $119 a barrel Monday, you want to know what that actually costs you.

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