WELLINGTON, NEW ZEALAND – APRIL 11: A general view of petrol prices at a Waitomo petrol station on April 11, 2020 in Wellington, New Zealand. Petrol prices have fallen recently, largely due to a decline in demand. New Zealand has been in complete lockdown since Thursday 26 March to stop the spread of COVID-19 across the country. Under the COVID-19 Alert Level Four restrictions, New Zealanders are not allowed to leave their homes unless for exercise in their local area, or to get essential supplies. Offices, schools and childcare centres have been closed, along with bars, restaurants, cinemas and playgrounds. Essential services remain open, including supermarkets and pharmacies. Lockdown measures are expected to remain in place for at least four weeks, with Prime Minister Jacinda Ardern warning New Zealanders of zero tolerance for people ignoring the restrictions, with police able to enforce them if required. (Photo by Hagen Hopkins/Getty Images)
(Photo by Hagen Hopkins/Getty Images)Gas Prices Drop to less than $1 per Gallon in Some Areas Gas prices have fallen to their lowest levels in four decades as a number of U.S. gas stations have dropped their prices to less than $1 per gallon.
While only 10 percent of the country's stations are selling gas for less than $1, another 75 percent are charging less than $2. The average price in the U.S. is currently $1.84 per gallon, down from $2.26 just a month ago -- and a full dollar cheaper than this time last year. What's more is experts say the price is going to keep going down.
The reason for the drop is the coronavirus pandemic, which has caused global oil consumption to plummet, says Tom Kloza, chief oil analysis for OPIS. "Gasoline prices in the United States are going to move lower the rest of this month and into May," he says. "I'd say there's a 50-50 chance we hit $1.25 as a national average."
When was the last time you saw gas prices this low? How much have you been driving since stay-at-home orders were issued?
