A WSJ piece highlights the mixed effects so far –
“The sharp and
sustained fall in gas prices that began last summer has altered American life
in ways large and small, spurring families to spend more at restaurants and
clock more miles in bigger vehicles, while bruising regions and sectors that
rode high on the oil boom.
An early round of
winners and losers has emerged. Oil refiners and businesses that sell or rely
heavily on gasoline, such as gas-station convenience stores, long-distance
trucking firms and car dealers, enjoyed surging profits. Many retailers,
including clothing and home furnishing stores, didn’t see the expected boost
from lower gasoline prices. And total consumer spending failed to accelerate,
with Americans stepping up their savings.”