This article is by Motoko Rich, Catherine Rampell and David Streitfeld.

Gasoline prices advertised at Fleet Fueling in Burbank, Calif., this week. Rising gasoline prices have already led some consumers to cut back on spending.

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The American economy just can’t catch a break.

Last year, as things started looking up, the European debt crisis flustered the fragile recovery. Now, under similar economic circumstances, comes the turmoil in the Middle East.

Energy prices have surged in recent days, as a result of the political violence in Libya that has disrupted oil production there. Prices are also climbing because of fears the unrest may...