In Texas the biggest oil and pure fuel producing state within the nation the power sector is an important a part of the "engine of the financial system," stated Darren Whitehurst, president of the Texas Vehicle Sellers Affiliation.

"If the value of oil stays at $30 or under, it would have a dramatic impression on the state of Texas," he stated.

West Texas Intermediate, a grade of crude oil used as a benchmark in pricing, was buying and selling round $30 final week. Its 52-week excessive is almost $67.

Whitehurst stated that each time there was an oil bust, it has rippled via the Texas financial system. Whereas some shoppers could delay car purchases, he has not heard from sellers that there was a big change in car gross sales but, he stated.

At McRee Ford in Dickinson, a suburb of Houston, supplier Mitchell Dale stated if oil costs keep low, it would impression the financial system and jobs in Texas, particularly within the Houston space, which might additionally result in a slowdown in gross sales of high-margin pickups.

McRee Ford sells...