Some States Could See Gas Prices Hit 99 Cents
Gas prices have been falling the past few weeks due to a perfect storm of a recent increase in production in Saudi Arabia and Russia and the dramatic decrease in demand trying to control the spread of the coronavirus (COVID-19) globally. And reports say we could see them fall even further.
GasBuddy.com reports that the national average could soon hit $1.99, with $1.49 on the horizon and some stations potentially pricing a gallon of regular as low as 99 cents.
If you think it’s been a while since we’ve seen prices like that, you’re right. The last time prices were below $1.60 was in December 2008 during the financial crisis.
As of this week, the U.S. average hit $2.24 with Oklahoma prices the lowest at $1.84 and Hawaii highest at $3.47. Currently, there are ten states with prices below $2.00.