PITTSBURGH (Newsradio 1020 KDKA) - Gas prices are plummeting in the wake of Coronavirus fears.
According to Gasbuddy.com, the average price of gas in Western Pennsylvania is $2.47.
That's 8.5 cents less than last week and 29.3 cents less than this time last year.
The cheapest station in Pittsburgh is at $2.13 a gallon while the most expensive sits at $2.89 a gallon.
Nationwide there are some areas that are only paying 57 cents a gallon, with the most expensive $4.99.
The national average price has fallen 14.3 cents in the past week for an average of $2.22.
"It's coming true- gas prices are plummeting in every town, city and state with the national average seeing one of its biggest weekly declines in the last decade," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "The number of stations selling gasoline under $2/gal has risen to nearly 40,000, up from 15,000 a week ago, while retail prices have collapsed to as low as $1.24/gallon in Oklahoma City last week, with more price drops coming for nearly every station in the week ahead as they continue to pass along the lower replacement cost. The root cause continues to be coronavirus related, since demand for oil slumped globally, inducing the current price war between Russia and Saudi Arabia as they both raise output, causing oil prices to crash through the floor. Such a large decline at this time of year is mind-blowing, as gas prices have risen in all but one year in the last ten during the spring. All good things may not last forever, however, as rumors swirl that Russia and Saudi Arabia are holding high level talks to reign in the collapse in oil prices, which could eventually end the party at the pump."
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