The national average for a gallon of gasoline dropped to $1.99, AAA announced Tuesday.
It’s the first time in four years that average prices for gas fell below $2 due to two global problems. The global coronavirus pandemic has suppressed oil demand and a crude oil price war between Saudi Arabia and Russia have combined to lower crude oil to less than $20 per barrel, the lowest price since 2002, AAA reports. And the price for gas is expected to drop even more.
“AAA expects gas prices to keep dropping as cheap crude combines with the realities of people staying home and less demand for gas,” Jeanette Casselano, AAA spokesperson, said in statement. She added that 68% of gas stations in the U.S. are selling gas at $1.99 or lower.
Experts advise against unnecessary travel in many states, and AAA’s manager for repair systems says gas typically won’t spoil for a few weeks.