MIAMI (CBSMiami) – Coronavirus is having a huge impact on the economy, but it’s also making it cheaper to fill up your tank.
Prices have dropped about 19 cents in just the past month. It’s been falling ever since Saudi Arabia decided to increase supply.
“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 a barrel you can certainly see how that difference makes a big impact at the pump,” said Triple A’s Jeanette Casselano.
Casselano says drivers in several southern states are currently paying less than two dollars a gallon for gas and more states will be joining them.
“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,” she said.
So how low could prices go?
“We could see prices drop another 25 cents in the coming weeks and for states in the south that are already paying under two dollars prices could go to $1.75,” said Casselano.
That’s good news for people who are struggling financially because of the coronavirus
The biggest price drop has been in Ohio where prices at the pump dropped 27 cents in the past month.
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