Coronavirus fears drive down gas prices nationwide

Posted at 5:47 AM, Feb 03, 2020
and last updated 2020-02-03 06:02:43-05

Coronavirus fears are driving down gas prices nationwide.

RELATED: World Health Organization declares global health emergency over deadly coronavirus

According to AAA Florida, you’ll be enjoying a seven cent drop. If the wholesale prices hold, we could see gas as low as $2.30 per gallon by the end of the week.

According to Gasbuddy, a contributing factor is that China is the worlds second largest oil consumer. Travel restrictions coupled with fear of infection is lowering demand and lowering gas prices nationwide.

RELATED: Delta, American Airlines suspend China flights amid coronavirus outbreak

According to the Energy Information Administration, domestic stocks have grown to 260 million barrels, the largest supply stock ever.

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