When energy prices ⬆️, fuel use falls—but only up to a point.
In a @nytimes article, @cwolfram.bsky.social notes that consumers + businesses need gasoline, diesel, and jet fuel even when prices ⬆️ fast.
Knowing which demand is flexible, and which isn't, matters for policymakers.
buff.ly
The decades-old term refers to the sustained loss of demand for a commodity, caused by high prices.
