US gasoline prices rose sharply after Russia invaded Ukraine in February 2022 and the European Union and the United States imposed economic sanctions. The attention paid to these economic events was certainly warranted: In June 2022, the producer price index (PPI) for gasoline had jumped 85% above what it was a year earlier. Oil prices were clearly affected, but how do those changes compare with price changes for other commodities? FRED has US price data for a variety of commodities, and the FRED graph above plots the PPI for natural gas, diesel fuel, crude petroleum, gasoline, farm products, and metal products from ... (full story)