California's $6 Gas: Is The Rate-Cut Story Dead?

Gas prices have hit new four-year highs nationwide, with Friday's national average coming in at $4.42. Residents in California are paying $6 or more per gallon.
The surge in gas prices could be the start of "demand destruction" and lead to fewer chances of a Federal Rate cut in 2026 and could even mean a rate increase, according to one expert.
• United States Natural Gas Fund LP stock is showing downward bias. Where is UNG stock headed?
Federal Reserve Calls Out Energy Prices
This week's Federal Reserve meeting and comments saw rates remain steady in what was the final meeting led by outgoing Fed Chair Jerome Powell.
While keeping rates unchanged, the Fed warned that "inflation is elevated," and referenced the "increase in global energy prices." These new comments come after the F