Coronavirus Causing Major Drop in Gas Prices

LOS ANGELES, CALIFORNIA - MARCH 10: Gasoline prices are displayed at a Shell gas station on March 10, 2020 in Los Angeles, California. The average price of one gallon of regular self-service gasoline in L.A. County dropped to $3.494, the lowest price since March of last year. Demand for gas …
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The coronavirus has been causing a major downward trend in gas prices, and it is expected that they will continue to drop over the next few weeks, experts say.

Drivers in many states have been seeing a pleasant surprise at the pump: cheaper gas prices. Over the past month alone, prices have fallen 19 cents and experts say the fall has a lot to do with the coronavirus, WRBL reported.

“Right now, we’re seeing crude oil trend about $30 a barrel. When you compare that to last year when we were seeing close to 70 dollars a barrel, you can certainly see how that difference makes a big impact at the pump,” said AAA spokesman Jeanette Casselano.

“With a lot of people working from home right now, that’s going to have an impact on gasoline demand. We’re not going to see as many people on the roads. We could see prices drop another 25 cents in the coming weeks and for states in the south that are already paying under 2 dollars prices could go to 1.75,” Casselano added.

The current plummeting prices have to do with a recent increase in Russia and Saudi Arabia and a dramatic decrease in demand due to people working from home to control the spread of coronavirus.

The average U.S. gas price hit $2.24 on Tuesday, down by 20 cents from a month ago. Oklahoma currently has the lowest gas price in the nation at $1.82 per gallon, and Hawaii has the highest at $3.44, according to Gas Buddy.

Ten states have gas prices below $2.00 per gallon.


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