Yes, and that volatility is why economists exclude fuel and food from core CPI.

Except oil prices are predicted to remain over $100 for at least the rest of this year. It’s not a short term thing.

	▲	giantg2 2 hours ago \| parent [-]
		Depends on your definition of short term. Did oil prices drop after '08-'09 timeframe? A few years could be seen as short term in economic trends.