For Americans, rising oil prices are threatening $3-a-gallon gasoline and pushing up prices for plane tickets. In many other parts of the world, today’s crude rally is more painful—sparking protests, gas lines and emergency subsidies to quell unrest. That is because many consumers outside the U.S. face a double whammy when—like now—the dollar gets stronger at the same time that oil prices rise. While petroleum is produced all over the globe, when it is sold to refiners and other buyers it is almost always priced in dollars. It is, in the words of Brazilian Finance Minister Eduardo Guardia, “a challenging external scenario.” Trucks sit idle in Brasília during the May strike; President Michel Temer eventually promised truckers $3 billion in diesel-fuel subsides and tax cuts. Photo: Eraldo Peres/Associated Press After Brazil’s military brought an end to a crippling strike by truck drivers over high fuel prices, Mr. Guardia called […]