Coronavirus Upside – Gas Prices Might Drop Below $2.00
Sometimes in a difficult situation, you need to look for the silver lining. That's how I'm viewing this. As the coronavirus outbreak continues to grow and spread it looks like it's going to help drive gas prices below $2.00 a gallon.
According to the article on www.nyup.com the drop in gas prices across the country is due to an oversupply of oil and growing fears about the impact of the coronavirus on the economy.
The national average price of gasoline has fallen about 6 cents a gallon in the last week, averaging $2.36 on Monday.
These lower gas prices might be a temporary thing though. As gas refineries switch to producing their summer blend of gasoline prices will likely go back up some because it's more expensive to produce.
In the meantime, enjoy the cost savings and don't try to hoard gasoline-like people are doing with toilet paper.