Coronavirus upside? Gas prices falling

Coronavirus upside? Gas prices falling

Coronavirus upside? Gas prices falling

Syracuse gas prices are 1.5 cents a gallon lower than they were a month ago and 13.8 cents a gallon lower than they were a year ago, according to the price-tracking service.

Gas was $1.94 a gallon Monday at the members-only Costco in West Springfield, according to the online reference, which posts user-submitted gas prices and is updated regularly.

With what's happening in the global market, along with an expected decease in travel, gas prices have nowhere to go but down like a rock, said Patrick DeHaan, head of petroleum analysis for GasBuddy, in his weekly gas report.

"Oil has now seen its value cut almost in half after Iran tensions inflamed prices months ago and it doesn't immediately look like it will get any better". A year ago, motorists were paying $2.43 a gallon.

The national average gas price Friday was $2.40, down a nickel from a week ago.

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The AAA Fuel Gauge Survey shows that the national average price of regular gas is $2.40 a gallon, six cents less than a week ago.

"At the rate fuel prices are falling on the stock market, Florida drivers could easily begin seeing sub-$2 gasoline this week", said Mark Jenkins, spokesman, AAA - The Auto Club Group.

AAA said pump prices are likely to continue falling through the end of the winter driving season "especially amid concerns about the coronavirus causing the price of crude to decline".

Sunday night, the lowest price to be found in North Escambia was $2.20 at two stations in the Cantonment area. The lowest price in the state is $2.19 a gallon.

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