The statewide average for a gallon of regular gasoline has dipped to about $1.93. COVID-19 economic impacts, as well as overproduction between OPEC and Russia, are two main factors. AAA fuel analyst Don Redman says this isn’t the normal season for savings at the pump.
“Typically we would see prices going up at this point, not coming down. In fact, we are even cheaper than we were a month ago. A month ago, we were at $2.13,” said Redman.
The price has fallen by a dime since last week.
The forecast is for the price to drop to lows not seen in nearly twenty years. Those low prices came as a result of 9/11.
“In November of 2001, we were at about $1.11 a gallon and that’s pretty much where we may be heading pretty soon,” said Redman.
Redman says he sees many parallels in the economy between now and immediately following 9/11.
“After the terrorist attack, nobody was traveling. It was a big moment. This kind of is very reminiscent of where we are, economically,” said Redman.
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