Longing for the days when gas was less than a dollar a gallon? Thanks to coronavirus, one gas station in London, Ky., has reached that point.
Spur _ a BP gas station in London _ was selling gas for 99 cents as of Thursday. It's the first gas station in the United States to sell gas for under a dollar in the midst of the coronavirus pandemic, according to GasBuddy.com.
"We're major backed up here," said Shirley Lunsford, an employee at the store. "It's crazy. I've never seen it this busy, and I've worked here for going on 16 years."
Lunsford said the store sold out of gas this morning, but another delivery was brought in to allow sales to continue. The price has stayed at 99 cents all day, she said.
The last time gas was under a dollar nationwide was 1999. While the national average may not get that low this time around, it's likely to trend lower than it currently has fallen. It was just two days ago that Gasbuddy.com analyst Patrick De Haan projected gas could fall to 99 cents in certain areas of the country.
Gas prices have fallen in accordance with crude oil prices. The drop in crude oil costs occurred because coronavirus is keeping people from going out as much, GasBuddy wrote Tuesday. Since demand has lowered, so have prices.
"Demand for oil will be at multi-decade lows for a better part of 2020, which means gas prices will be some of the lowest we've experienced in a while," GasBuddy wrote.
