However, now there is a serious disruption to the downstream refinery process and the transportation and distribution of refined products. Typically, when gasoline prices are high, a saving grace is that the U.S. energy industry thrives. Crude oil prices have been low since 2015, but the disruption of U.S. refining has caused crude oil prices to drop further. If the U.S. refining situation does not fully recover soon, the price of WTI crude oil could continue to fall. Without the saving grace of high crude oil prices buoying growth in the energy sector, the impact on U.S. economic growth could be severe.

Source: Forbes August 30, 2017 18:22 UTC