According to Nick Timiraos's report on Federal Reserve Governor Christopher Waller's Q&A session, Waller believes that a pullback in crude oil prices or an increase in Gulf crude supplies does not mean diesel prices will drop significantly in the short term. He noted that global refining capacity has been severely damaged and is difficult to restore quickly, and crude oil still needs to be processed into diesel. Therefore, energy prices facing consumers cannot be judged solely by the price per barrel of crude oil.