Jet fuel is only 8% so if there is less auto usage, probably cheaper initially until supply is constrained due to lower demand. Then, other methods will start to get cheaper like wood to fuel[2].
But overall fuel and heating oil are about 70-80% of all oil use, we still use it for plastics which will be hard to get rid of which are 4% of usage. My guess is initially both jet fuel and plastic production prices will go down when autos are electric, at least initially.
[1] https://www.eia.gov/tools/faqs/faq.cfm?id=41&t=6
[2] http://www.denverpost.com/2016/11/14/first-commercial-flight...
The field requires such a great energy density that I suspect only a remarkable breakthrough in energy density for weight would allow a fully electric solution. Hydrogen is also likely out as the storage cells would be under unimaginable stresses.
In the long term it might actually incentivize the creation of moderate/high speed rail lines in the US.
A route roughly following the I-80 corridor would top out somewhere below 9000 ft[1]. The California high speed rail is already being designed for what I would guess are similar elevations (and perhaps steeper grades)[2].
You could also route through southern Arizona and New Mexico, completely avoiding significant mountains.
1. https://en.wikipedia.org/wiki/Interstate_80#Wyoming
2. http://articles.latimes.com/2012/nov/12/local/la-me-bullet-m...
Given current train speeds, that comes out to around 500-700 miles being the upper limit of viable HSR. This is roughly the distance between Chicago and DC and also roughly the distance of the largest axis of most European countries.
The main way this effect breaks down is if the market shrinks so much that we loose the economy of scale; but it seams unlikely demand will fall far enough for that to occur.
Before you might be selling lubricants cheaply, because after refinement you had lots of lubricants as a by-product. If you need less car fuel, this changes the cost equation and lubricants (and other byproducts) might become more expensive even if car fuel becomes cheaper.
Probably the same thing that happened to coal, it just gets used elsewhere.
Historically used for heating, trains and ships
It's self-stabilizing.