Uncertainty in the American economy is beginning have an effect on the energy markets and gas prices.
Oil prices have declined amid concerns among investors that rising interest rates will push the U.S. economy into a recession.
Analysts have expressed concern that a recession will cause oil demand and pump prices in the world’s largest economy to tumble, with a negative effect on the global energy industry.
U.S. economic growth slowed considerably in the first quarter of 2023 to an annual rate of 1.1 percent, according to Bureau of Economic Analysis on April 27.
That was a large drop from the 2.6 percent rate in the last quarter of 2022 and a greater decline from what most economists had anticipated….