Jeff Currie, a senior commodity strategist, said that the average price of gasoline in the US will almost certainly reach $5 per gallon before the midterm elections because scarce supply and currency depreciation have a dangerous superposition effect. Currie, founder and CEO of Real Macro, said that the shortage that first appeared in the refined oil sector is now spreading upstream to crude oil, and the energy shock is entering a dangerous new phase. Currie previously worked for Goldman Sachs Group and became famous on Wall Street as a result. “Crude oil is the signal, and now we're talking about refined oil products, they're just noise,” Currie said in an interview on Friday.

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