AAA: Gas prices will likely fall below $2 per gallon in coming weeks

Gas Tracker

FILE – In this Aug. 10, 2012 file photo a customer pumps gas into his dual-tank pickup truck at a 76 gas station in Los Angeles. California regulators will hold a public hearing on Thursday, Dec. 12, 2019 about whether to require a certain percentage of truck sales to be zero emission vehicles. California has some of the worst air quality in the nation, largely driven by pollution from cars and trucks. (AP Photo/Grant Hindsley, File)

(CNN) – The oil price war brought on by the coronavirus epidemic could push gas prices below $2 a gallon in the coming weeks.

USA Today cites the head of petroleum analyst at GasBuddy, a fuel-savings app.

He says prices could be driven below the $2 a gallon mark if COVID-19 fears continue, and the global oil supply does not shrink.

It comes after major oil-producing nations failed over the weekend to agree to a plan to boost crude oil prices.

AAA reports the national average price of gas is currently at $2.38

At a meeting in Vienna Friday, Russia refused to go along with OPEC’s proposal to rescue the coronavirus-battered oil market by further cutting production.

Then, Saudi Arabia shocked the market by launching a price war against a one-time ally Russia.


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