If you were only to read one thing…

“Americans are spending more at the pump than they have in years. Prices could rise even higher just as drivers hit the road for family vacations.”
“Crude prices have jumped thanks to continuing production cuts by major exporters. As a result, gasoline is also becoming more expensive. According to the U.S. Energy Information Administration, average regular retail gas prices reached $2.70 a gallon last week—the highest level since 2015.”
“While higher fuel prices could herald an end to the glut that has plagued the energy market since 2014, they also threaten to dampen demand and hit consumers in their pocketbooks.”
“Since the Organization of the Petroleum Exporting Countries and other major oil producers, including Russia, agreed to collectively limit output two years ago, U.S. oil futures have risen about 40%, closing at $62.06 a barrel on Friday. Gasoline futures are up 8.6% this year.”
And of course, Venezuela’s drop off in production…
“In recent months, the U.S. has also exported record amounts of gasoline, mostly to Latin and South America. In January, exports totaled more than 33 million barrels, near an all-time monthly high set in November.”
“’That’s a big difference from a decade ago, or even a few years ago,’ said Tom Kloza, global head of energy analysis at the Oil Price Information Service. ‘We’re kind of refiners to the entire Western Hemisphere right now.’”

Perspective

“The richest zip code in America is just as exclusive and elite as the people who live there. Fisher Island, located just off the coast of Miami, is accessible only by ferry or water taxi and is a haven for the world’s richest.”
“The 216-acre island has diverse residents, representing over 50 nationalities and professions ranging from professional athletes and supermodels to executives and lawyers.”
“The average income in Fisher Island, zip code 33109, was $2.5 million in 2015, according to a Bloomberg analysis of 2015 Internal Revenue Service data. That’s $1 million more than the second-place spot, held by zip code 94027 in Silicon Valley, also known as the City of Atherton on the San Francisco Peninsula. The area’s neighbors include Stanford University and Menlo Park, home to Facebook and various tech companies. While the IRS data only provide the averages of tax returns, which can be skewed by outliers, Fisher Island is the only zip code in the Bloomberg analysis where more than half of all tax returns showed an income of over $200,000.”