How Will Rising Oil Prices Impact the US Economy?

The price of oil has surged to $99.84 per barrel, a rise of $1.08 compared to yesterday morning and $29.47 higher than the price one year ago. This increase has significant implications for the US economy, from gas prices to job creation.

## What Happened
The recent spike in oil prices is attributed to various factors, including supply and demand imbalances, economic recession worries, and geopolitical tensions. As a result, gas prices at the pump have also increased, with the national average soaring over 50% to $3.60 a gallon.

## Why It Matters
The impact of rising oil prices on the US economy is multifaceted. On one hand, higher oil prices can lead to increased revenue for oil-producing companies, as President Donald Trump recently pointed out. However, this can also lead to higher gas prices, which can negatively affect consumers and businesses alike.

## Key Numbers
- Oil price: $99.84 per barrel (as of March 13, 2026)
- Gas price: $3.60 per gallon (national average)
- Increase: 50% rise in gas prices over the past month
- Impact: Higher oil prices can lead to increased revenue for oil-producing companies, but also higher gas prices for consumers

## What Experts Say
> "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money." — President Donald Trump

However, not everyone shares Trump's optimism. Many experts argue that higher oil prices can have a negative impact on the economy, particularly for low-income households who spend a larger portion of their income on gas.

## What Comes Next
As the US economy navigates the impact of rising oil prices, companies like Thrivent are taking a different approach. Despite the trend of AI layoffs, Thrivent plans to add 600 financial advisors this year, citing the need for human advisors in a rapidly changing market.

## Key Facts
- Who: Thrivent, a Minneapolis-based financial services company
- What: Plans to hire 600 financial advisors in 2026
- When: Announced in March 2026
- Where: Minneapolis, Minnesota
- Impact: Part of Thrivent's growth plan to meet rising demand for purpose-driven financial advice

In a related development, Motional, a Hyundai-owned company, has launched its robotaxis on the Uber app in Las Vegas, marking a significant milestone in the development of autonomous vehicles.

## Background
The launch comes two years after a major reboot at Motional, which hopes to remove safety monitors by the end of the year. This development has significant implications for the future of transportation and the economy.

## What to Watch
As the US economy continues to evolve, it's essential to keep an eye on the impact of rising oil prices, the growth of autonomous vehicles, and the trend of AI layoffs. Will companies like Thrivent continue to buck the trend and invest in human advisors, or will the economy shift towards more automation? Only time will tell.