Los Angeles, CA (CBS)- Coronavirus is having a huge impact on the economy, but it’s also making it cheaper to fill up your tank.
Drivers are getting a pleasant surprise at the gas pump…. cheaper prices. Prices have dropped about 19 cents in just the past month. The cost of oil is a big reason why. 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 dollars a barrel, you can certainly see how that difference makes a big impact at the pump,” said AAA spokesman Jeanette Casselano.
Drivers in several southern states are currently paying less than 2 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. 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,” said Casselano.
And that’s good news for people who are struggling financially because of the Coronavirus.