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Coronavirus Linked To Gas Prices Plummeting

There’s occasionally a silver lining from the coronavirus, at least for motorists. After a long period of low stagnation, gas prices are expected to plummet fairly rapidly in California. Patrick De Haan, with Gas Buddy Dot-Com, says the plunging stock market has dropped oil prices to the lowest levels in 18 years. And there’s much less demand, with a lot of people under shelter-in-place directives and not driving as much…

click to listen to Patrick De Haan

Prices have dropped below three-dollars a gallon at many stations around the state. But De Haan says it’s unclear where the bottom will be, with so much uncertainty about how badly the economy will suffer from the coronavirus, and for how long…

click to listen to Patrick De Haan

De Haan says efforts to cut global oil production have been unsuccessful so far, after talks collapsed between OPEC and Russia, two of the world’s largest producers.

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