What’s Keeping the Global Economy Afloat? Cheap Gasoline

Amid trade tensions with China and some signs that business activity may be slowing, consumer spending is the driving force that has propped up the economy for the past year.

Low gas prices have played a substantial role in maintaining hardy U.S. consumer spending — and that has kept the whole world from tipping into recession.

Cheap gas also has helped to provide fuel for the 10-year economic expansion and, should they remain historically low, would provide a soft landing for any imminent recession.