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Coronavirus may bring lower summer gas prices

Coronavirus-brings-rising-gas-prices

IDAHO FALLS, Idaho (KIFI/KIDK) - If you're planning on making a drive this summer, it may be cheaper for you. 

Even though Idaho gas prices have increased one cent this past week, according to Gas Buddy Idaho, prices may drop on less demand by summer.

The state average is $2.51 per gallon Monday.

With the COVID-19 coronavirus spreading into new countries, more countries are locking down travel.

"Coronavirus has slowed down demand for crude oil in China. Since that's where tens of thousands of cases are, reduced demand thereby shutting down transportation networks flight cancellations. So there's been a significant reduction in oil demand," said Patrick DeHaan, GasBuddy.

However, some experts still believe the seasonal summer increase will be expected by April and May.

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Ariel Schroeder

Ariel Schroeder

Ariel is a reporter for Local News 8 and KIDK Eyewitness News 3.

Comments

3 Comments

  1. Have you always wanted to be an ‘expert’? It’s easy; just pick a subject (try something OTHER than oil prices, ‘the stock market’, or political tendencies [seriously; THOSE have been done to death]) and declare yourself to BE an ‘expert’ in that field. Proceed with a series of S.W.A.G. and then, when one actually HITS, depend on the ‘news’ media to laud your Nostradamus-like abilities!
    Take a shot at the new SARS (Corona-virus) ‘panicdemic’: ‘Expert’ predictions range from “Will most likely end 60% of all life on the planet Earth within the calendar year!” through “Appears to be fatal in a FEW cases.” 😉
    IMO? The_Skunk is probably close; Big Oil will just use it as an excuse when they feel the need to increase their ‘margins’.

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