I've thought that the fact that gas prices have stayed low, despite all that is going on in the Middle East, is likely a sign that the world's economy is plummeting and we just don't see it yet.  After the October 7th attack and the Houthi attacks on shipping, I expected gas prices to sky rocket over $5/gallon and they have stayed right around $3/gallon.  That says to me that demand is extraordinarily low.