Gas prices falling in Tennessee as COVID-19 slows travel demand
- Author: Darren Santiago Apr 01, 2020,
Apr 01, 2020, 0:25
Gas prices across the world continue to fall as countries battle a slowdown in commerce prompted by the spread of COVID-19 coronavirus, and a price war between oil-producers Saudi Arabia and Russian Federation.
Gas prices are plunging primarily because Floridians are not driving as much as they normally do this time of year.
The national average price for a gallon of gas is now $1.997, according to AAA, and it's expected to drop further in the next few weeks - to $1.75 or even lower. The lowest price per gallon in North Escambia was at $1.75 per gallon at one Cantonment station.
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. But drivers are paying less than $1.99 at more than two-thirds of the gas stations in the US, according to AAA data. If wholesale prices hold at current levels, the state average could eventually sink below $1.60 per gallon.
Without adjusting for inflation, the last time the national average was under $1 was over 30 years ago in 1988, when it was 90 cents.
Air Canada to lay off another 16,500 workers, slash capacity by 90%
Air Canada employs 36,000 people around the world, according to the company website. The number of airports in Canada it is now serving has been reduced from 62 to 40.
The average retail price for a gallon of gasoline in the United States fell below $2 a gallon on Tuesday, the American Automobile Association said.
Amid the pandemic, there is "quite a bit more downside that's in the pipeline coming in the weeks ahead", he added.
According to AAA, 94 percent of Tennessee filling stations ave gas prices less than $2.