Fuel prices for gasoline, diesel, and jet fuel are rising despite a decline in crude oil prices, creating significant costs for travelers and threatening to undermine inflation control efforts.

Analysts note a record gap between refined products and crude oil prices, exacerbated by supply disruptions from Russia's export ban, Middle East tensions, and reduced refining capacity in Europe due to heatwaves.The U.S.faces seasonal inventory lows, while Europe struggles with refinery efficiency during extreme heat.

Despite initial predictions of shortages, supply remains relatively stable, though traders warn of potential price spikes if exports from China and other regions don't increase.

The situation complicates President Trump's claims of curbing inflation, with businesses and investors citing fuel costs as a key factor in economic challenges.