Gas Prices Could Plummet Below $2 a Gallon Due to Coronavirus Fears
KWQC reports that fears over the coronavirus have created an oil price war that could result in gas prices plummeting.
GasBuddy head of petroleum Patrick DeHann said that price per gallon could drop to below $2 per gallon.
These projections come after major oil-producing nations failed to come to an agreement over the weekend for a plan to boost crude oil prices. Russia refused to go along with OPEC's proposal to rescue the coronavirus-battered oil market by further cutting production. OPEC is made up of 13 oil-rich countries in Africa, the Middle East and South America.
OPEC member Saudi Arabia has cut oil production in response.
AAA is reporting that the current average price per gallon sits at $2.38 per gallon.