Gasoline prices in the United States have steadily fallen in recent weeks — to less than a dollar per gallon in some places — as fewer drivers are on the road due to coronavirus-related restrictions.
AAA said Friday the national average for a gallon of gas is $1.83 — a decline of 41 cents per gallon from a month ago and a full dollar cheaper than the average price a year ago.
The cheapest gasoline is being sold in the Midwest, where the cost per gallon is $1.50 or less in seven states, according to AAA.
Wisconsin has the least expensive regular gas in the United States, at an average of $1.25 per gallon. But several locations are selling fuel for less than a dollar per gallon.
Gas stations in Milwaukee and Waukesha, Wis., were both selling regular gasoline for less than a dollar.
“I came a little bit out of my way because its only 89 cents per gallon,” driver Jenna Strobel told WTMJ-TV. “I can barely believe it. I filled up my gas tank for $11. Unbelievable.”
The cost of gasoline has fallen due to the coronavirus crisis and tensions in the oil markets in recent weeks that depressed prices. Russia and OPEC agreed last week to a plan to cut production, but the two sides took weeks to arrive at a deal, during which time oil prices sank to historic lows.
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WOW, who-da-thunk-it? Still laying the BIG bucks in Vegas that gas prices will NEVER again be $.10c per that I paid during a ‘gas war’ in SC in the early ’60s!
We saw $0.25/gal for 103 octane in the mid ’60s to fuel our muscle cars. Those were the days!
I remember 65c in Atlanta in the mid-80’s. Right now it’s about $1.35 at Sams Club, which when you factor in inflation is cheaper than 65c in the 80’s.
Bought an extra 5 gal gas can. Filled it up. You never know if things might get crazy. Toilet paper got scarce quick. Gas will get scarce quicker if it does.
Nice.. I wonder, how SWIFTLY prices wil jack up, once restrictions get lifted?
They might not for a while. The supply chain is badly backed up, from before C19. Countries ran out of places to store all the oil. Saudi Arabia and Russia are upset about our latest oil extraction techniques making us an exporter and ruining their OPEC extortion empire.
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We haven’t drilled a dry oil well since around 2010. We haven’t drilled an unprofitable well since around 2012. We found new oil reserves in ND, TX, and Alberta, which all comes through the USA anyway.
Officially, Russia and SA combined have over 6 times as much oil as we do.
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But then American oil companies under-report their reserves for tax purposes. Our klepticians have a fondness for slapping “windfall” taxes on oil companies. No sense giving them too much information when they use it as a weapon.
This plus the recent electrification of our vehicle fleet will ensure we NEVER run out of oil. We’ll just reach a point where we no longer care about millions of barrels of oil anymore. Oil companies see this coming and are trying to diversify into alternate energy.
Klepticians. Nice new word..
All gassed up and no where to go.