Coronavirus Leads to Lower Gas Prices
The Coronavirus outbreak has led to decline in dozens of businesses including cheaper gas prices in the U.S. due to a global drop in demand for oil. Gas-Buddy reports the average gas prices have fallen $0.06 over the past three weeks.
Most of the drop in oil demand is from China, which normally is the biggest importer and second largest consumer of oil in the world. China has been buying less oil over the last few weeks as fewer people are traveling there and the nation’s economic activity is largely shut down.