Economy

Gas prices continue to drop, lowest in WI under $1 per gallon

Gas prices continue to drop, lowest in WI under $1 per gallon”

The American Automobile Association (AAA) on Monday reported a 12-cent-per-gallon drop in gas prices in Northeast Ohio, bringing average prices to $1.68.

It's the lowest price since February of 2016, specifically 1,496 days.

Gas Buddy, a price-checking phone app, listed Gas USA's prices as one of the lowest in the area Tuesday morning, with only EXBO, a gas station down the road at Bellaire Avenue and West 117th Street, matching Gas USA's 99.9 cents price tag.

Some service stations in the USA are selling gasoline for 99 cents a gallon, prices not seen in about two decades.

Motorists are paying an average of $26 for a full 15-gallon tank of gasoline, a discount of $18 from when prices were their highest in July 2019.

More news: Walmart to check workers' temperatures in coronavirus problems

"With the nation continuing to be under siege from the coronavirus and millions staying parked at home, there's quite a bit more downside that's in the pipeline coming in the weeks ahead", DeHaan said. "The state average is down 45 cents since March 1", said Megan Cooper, spokesperson, AAA - The Auto Club Group.

The national average fell 10.1 cents per gallon in the past week to $1.97 per gallon.

Adjusting for modern inflation, the national average price of gas has never dipped below $1.47 a gallon, according to federal Office of Energy Efficiency and Renewable Energy. The least expensive gas price averages are in Flint ($1.69), Grand Rapids ($1.69) and Benton Harbor ($1.70).

Sales are down so far that the EPA has delayed the annual switch to summer-blend gas from May 1 to May 20 to give stations more time to clear their stocks.



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