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Gas prices historically begin to dip after a demand drop-off tied to summer-time prices — this doesn't seem to be this year's case, unfortunately. Oil refining is "constrained" across the globe and isn't forecasted to pick back up until next year. CIBC Private Wealth Senior Equity Trader Rebecca Babin joins Yahoo Finance to discuss what this means for consumers and how energy stocks, like Exxon Mobil (XOM) have remained robust.

"Higher for longer, unfortunately — the way we talk about interest rates — is around in gasoline," Babin explains the long-term effects of low refining outputs. "I don't think we go skyrocketing to $5, but I also don't think we see a huge pullback — maybe we get a modest moderation."

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This post was written by Luke Carberry Mogan and Nicholas Jacobino.