NEW YORK—On Wednesday, May 6 at 11:30 AM ET, the Federal Reserve Bank of New York will release a Liberty Street Economics blog examining changes in nominal and real gasoline spending across different income groups, through March 2026.
In March 2026, energy prices surged to a four-year high, driven by the restriction of traffic in the Strait of Hormuz. This upcoming blog provides a timely analysis of how gas consumption by income groups changed in response to this episode, and how those patterns compare to the energy price shock experienced at the beginning of the Russia-Ukraine war in 2022.
The findings in this blog are based on the Economic Heterogeneity Indicators (EHIs), economic indicators that measure macroeconomic outcomes experienced by different demographic, economic, and geographic groups—both nationally and in the New York Fed’s region.
Press Call on the K-Shaped Pattern in Gasoline Spending:
Authors of the blog will host a deep background press call on Wednesday, May 6 at 10:30 AM ET to provide further context on the research. Journalists interested in participating should RSVP to Betsy Bourassa at Betsy.Bourassa@ny.frb.org.
