Axios

Amos Hochstein, a senior state department adviser for energy security, said on Sunday that he expects gas prices in the U.S. to fall to $4 per gallon.

The big picture: After months of skyrocketing, prices at the pump have finally begun to fall.

Disney is increasing the price of its sports streaming service ESPN+ from $6.99 monthly to $9.99 monthly, a 43% increase.

Why it matters: The price hike, beginning Aug. 23, will help make the service more profitable as live programming costs increase.

Ice cream prices continue to rise but demand for the frozen treat hasn’t melted, experts told Axios.

The big picture: Ahead of National Ice Cream Day on Sunday, the latest Consumer Price Index found June ice cream prices were up 12.5% over last year and increased 3.1% from the prior month.

Older consumers are more likely to attack the brands they disagree with, while younger generations are more focused on uplifting brands that align with their values, a new PricewaterhouseCoopers (PwC) customer loyalty survey found.

Why it matters: Executives and brands feel mounting pressure to weigh in on geopolitics and societal issues, but many cite consumer backlash as a reason to stay quiet.

It's National Ice Cream Day, and while ice cream prices have been on the rise, businesses are offering deals and freebies Sunday.

The big picture: Much like with National French Fry Day last week, businesses are using the freebies and deals to build bigger customer databases and drive loyalty.

An ex-Southwest Airlines flight attendant won a $5.1 million verdict against the airline and her union Friday after a Dallas jury found it had discriminated against her regarding an anti-abortion rights stance that stems from her religious beliefs, the AP reports.

Driving the news: The former employee, Charlene Carter, filed the suit after she was fired in 2017 following a clash with the union president over union members' attendance at a demonstration in 2017 in Washington, D.C., for abortion rights, among other issues.

Buy now, pay later (BNPL) is an industry where the rate of growth is exceeded only by the pace at which valuations are falling. Axios Markets unpacks everything you need to know in this deep dive.

What happens if you combine three financial innovations of dubious utility — BNPL, NFTs, and fees in lieu of interest? Answer: Supermojo!

Why it matters: Wherever there's an arena into which mainstream BNPL companies fear to tread, startups will fearlessly enter. Supermojo finances NFTs; Grabagun.com (slogan: "shoot now, pay later") uses a service that helps customers finance guns at fees that can amount to the equivalent of triple-digit interest rates.

BNPL startups have only existed in a low interest rate environment. Rising rates will put their business models to the test.

Why it matters: Some will feel the pain of interest rate hikes more intensely than others, depending on how they fund themselves. But no one is immune.

BNPL activity still doesn't affect consumer credit scores.

Why it matters: As the BNPL industry has grown, so has the need to make borrowing activity more transparent.

BNPL valuations, like other beneficiaries of the pandemic's boom times, are getting a reality check.

Driving the news: Klarna, a Sweden-based buy-now-pay-later company, announced this week a stunning 85% valuation cut as part of raising $800 million in new funding.

Buy-now-pay-later, or BNPL, is a rapidly growing but controversial way for consumers to borrow money to pay for goods and services. Think of it as the Gen Z credit card.

Why it matters: The young BNPL industry has yet to be tested through an economic downturn. The next recession, if and when it comes, could put serious strains on borrowers and lenders alike.