Gas Prices are Falling Fast
Gas prices are really taking a dive! One of our teammates just found gas at a Sam’s Club in Oklahoma City for only $1.56 per gallon!
The national average is now approaching just $2/gallon as a result of failed OPEC talks and concerns over the economic impact of coronavirus.
Although not every area of the country is likely to see gas prices get down to $2 per gallon, many of us are already finding the price of gas to be well below that benchmark. Another one of our teammates filled up for just $1.90 at a Chevron in Canton, GA this morning.
While there’s no telling how low gas prices will go, experts hope that the lower cost will help families to regain their financial footing and get back on the road especially in the wake of the coronavirus shut downs and ultimately helping the economy to recover more quickly.
What are gas prices like where you live? Please share!
Check out these easy tips for saving money on gas every time you pump!
$1.89 lowest in my area.
$2.19 northern Colorado
It is lower than that in greeley.
The prices are falling due to Saudi Arabia playing games with Russia and producing more oil. It has absolutely nothing to sue with coronavirus
Absolute truth, Laure! Oil prices have nothing to do with the virus. Don’t spread fake news, Hip2Save!!
As someone who works in the oil industry, Saudi and Covid-19 are both the cause. No, H2S didn’t share fake information. There are many factors that play a part. Both have a hand in this.
You are correct! I work in the fuel industry, and this has nothing to do with the coronavirus.
Perhaps HIP2SAVE should not state that in the post – it’s false
And this nothing to celebrate – this is not good
From ABC news (and every other source I checked): The COVID-19 outbreak has been driving oil prices down for weeks as it has stunted economic activity in China, the epicenter of the outbreak and the world’s second-largest oil consumer. Over the weekend, OPEC members met to discuss how to deal with falling oil prices. Talks disintegrated, however, and Saudi Arabia ended up slashing its oil prices, triggering a price war and sending U.S. crude oil prices plunging by more than 25%.
Exactly Sharon. You are right.
Thank you Laure! I was coming to say the same thing.
Yes, thank you, I was going to say that as well. H2S, you need to update your post. This is NOT because of coronavirus, it’s due to increases in production from Saudi Arabia. That also has a lot to do with what’s going on with the stock market (the stock market also has to do with COVID-19, but gas prices do not!)
Thank you so much for pointing this out! We have updated the post.
Actually the coronavirus has definatel had something to do with falling prices. Yes, Saudi price war is the primary reason, but worldwide demand for oil is down, especially in China (#1 user of oil in the world). I hate all the virus hype more than anyone and think the media has created an unnecessary panic. But oil prices will continue to drop as the virus speeads and demand goes down. Airlines, cruise lines..all are canceling trips and it’s most likely going to get worse.
I agree, my husband works in this industry and he was telling me about this before I knew anything about the virus.
230 in ny 😒
$3.19 in Northern California
brmoeller I am in San Jose and that is about what we are at. We do have some of the nation’s highest gas prices. I just looked at a recent chart, and the five highest gas prices in the world are all European countries. They are over $6.00 a gallon!
They haven’t fallen at all in my neck of California. Funny how it takes FOREVER for the price to go down but it sure jumps up rather quickly
they still have to sell off what they have bought at a higher price, that’s why prices are not dropping that quickly.
I know right!?
2.99 and 3.19 at sams club in long beach ca but we’ve been within a dime of that for a while
I live in Northern CA. Historically our gas prices have always been 25-30 cents less than the Sacramento are. After the devastating fires wiped out Paradise, our gas prices surged, but while gas price in the surrounding areas have gone down, ours have stayed inflated. We haven’t seen under $3.50 since then, even though I’ve seen in under $3 in Sacramento. It was on the news, but since the guy who owns the major gas stations here sets the price, and the smaller stations base their price on him, then the mom and pops base their price on those, basically there is no competition, and he has no plans to lower the price.
$3.49 here in MB 😣
$2.53 in Pennsylvania.. still waiting for it to drop!
Seriously!!!
$1.63 here in South Carolina
$1.75 in TX
It’s $2.19 where I am at. Still, I remember when gas peaked at over $4 a gallon when I was in college… so $2.19 still seems cheap to me. Not that it matters too terribly much in my house, one of our cars is compact and the other is electric. Ha ha.
Today I saw $2.33 and $2.09 in Ohio. I’m wondering if it will break under $2. $2.03 is the lowest I’ve seen these few weeks.
I’m always jealous of South Carolina gas and Publix 🤣.
I’m in Cleveland, Ohio. Costco is @ 1.77
If you know even a little about economics, This is not good.
EXACTLY!
Not at all! This is BAD!
PHOENIX is still around $2.80ish. 😫
Prices are falling because of what Saudi Arabia did, lowering their prices to hurt Russia. Which helps us because we no longer get our fuel from them.
You are right! We have updated the post, Pat.
1.90 Langley Air Force Base
Thank you for sharing that info, sabrymarie; I was curious.
1.94 BJ’S in Conyers, Georgia. Hope it keeps dropping, but don’t want everyone sick.
$1.77 in NE Oklahoma
Gas prices are not falling due to the Corona virus. Please don’t add to the “fake news” outlets! Stay in your lane and do what you do best!!! I loved your site until today. Now I’m on the fence…
Oh God. Loved this site until now? Get outta here
👏🏼👏🏼👏🏼
I would absolutely not say that. *Economic Lesson time* Price is determined by supply and demand. The higher the demand or the lower the supply, the higher the price. Low Demand and High Supply mean price drop. So, yes Saudi Arabia has increased supply mainly in a dispute with Russia over Iran and a few other things. However, demand has also slipped because of the corona virus. Airlines which use jet fuel made from crude are not flying as many planes. Cruise ships which use a ton of fuel also will be not moving. People are giving up other forms of travel as well. Goods are also not moving from A to B b/c many of the factories in the Far East are shuttered and only beginning to resume production. Those cargo ships arent moving in the mean time. So yes, Supply is an issue but Demand will also be an issue too.
And one other thing, this time of the year is also known for lower demand b/c the northern hemisphere is coming out of winter and oil for heating usage drops off. That is one reason why the gas refineries typically go down in the Spring for maintenance so they can get ready for Summer production when more fuel is needed for traveling.
From ABC news and others:The COVID-19 outbreak has been driving oil prices down for weeks as it has stunted economic activity in China, the epicenter of the outbreak and the world’s second-largest oil consumer. Over the weekend, OPEC members met to discuss how to deal with falling oil prices. Talks disintegrated, however, and Saudi Arabia ended up slashing its oil prices, triggering a price war and sending U.S. crude oil prices plunging by more than 25%.
1.95 KY
$1.85 at Costco in Charlotte, NC. Otherwise about $1.94
Thank you HIP2SAVE for updating this post. It may not be my place, but I’m hopping in the future HIP2SAVE keeps their site a coupon/savings site and stays out of foreign affairs.
Yes!!!
Low gas prices are directly related to savings…
Yes Court.
Again, absolutely agree,stay what you are at best, away from economics and politics, if you don’t know how to word it right.
Although we know it’s because of Saudi and Russia. The virus scared has also a role, supply and demand. Planes are not flying and more people are staying home. It’s a factor.
Coronavirus did not play a role. Oil plummeted below $30 a barrel on Tuesday for the first time since December 2003. The latest wave of selling leaves crude oil down 19% this year alone. It represents an incredible 72% plunge from crude oil’s June 2014 peak of almost $108. This is not the site for misinformation. We come here for coupon/ store savings not foreign affairs
The irony. Gas prices falling but you don’t want to go anywhere!
That is ironic
$3.39 in Oceanside California
Milton FL $2.04
1.93 Gaylord, Michigan
I appreciate the editing of this post to take out false information, but why start the fear mongering? Plenty of that in the regular media. Stick to the deals please!
1.80 in northeast Ohio
2.29 NJ! It was 2.60 yesterday.
Here in chicago its 2.12
$2.09 on Maine coast this morning, down about .20 cents from yesterday
Pretty sure H2S isn’t trying to intentionally spread misinformation or stoke any fears. Seems to me the post was more about the fact that gas prices dropped. We’re all getting conflicting information from the news so it can be challenging to report everything accurately. Even the leaders of the country aren’t 100% correct about everything. One thing I like is that when facts are wrong, H2S corrects it. And, again, I see posts on here all that time that don’t interest or apply to me. I don’t try to tell them or any other site what to post. I just keep scrolling past. Just a thought.
Thank you for your post. Agreed!
Awww, thanks!
Yes, thank you for saying that!
Ditto
Thank you, Dealzgirl!!! I can get a sermon from church.
Not good the reason the prices are dropping either way but I’m not wishing for $4 a gallon anytime soon. I can’t control Saudi Arabia, Russia or Coronavirus but I still need gas.
1.92 western Kentucky
Saw prices drop $.40 in last week here In Houston. But being in oil town, we don’t celebrate. It means a big recession is likely and lots of unemployment.
I’ve yet to see much of a dip in gas prices in the NYC metro area. It’s been between 2.30 to 2.80 for months now.
I’m just glad the gas is less! Thanks Hip2Save for the positive, money- saving post:)
$3.60 for regular in the Peninsula/Bay area 🙁. Costco is so much cheaper at $3.05
$2.69 in the People’s Republic of New York.
$1.79 Oklahoma
I got gas at Sams in Moore, OK yesterday for $1.42!!
Our gas prices have been below $2 for weeks. Saw it yesterday for $1.67 at a fuel city location. Most places are $1.80something.