With the coronavirus lockdown keeping many New York drivers off the road, they might not have noticed how cheap gas is.
The average price at downstate pumps was just $2.175 a gallon this week, state data show.
The prices are so low because much of the world — like much of the US — is in lockdown, keeping cars parked and most businesses shut down or operating at reduced capacity. Consequently, worldwide oil demand has plummeted, sending prices plunging.
Add a dispute about production levels between Saudi Arabia and Russia, and crude oil prices have dropped to a level not seen since the early 2000s.
Read More at the New York Post