The coronavirus has caused the price of gasoline in North Dakota to drop 15 cents in the past week, and some industry analysts say the downward spiral could see gas plummet to 99 cents a gallon.
According to travel and navigation application GasBuddy, gas prices in the state are 37 cents lower than one month ago. The company conducts a daily survey of 493 gas stations in the state and found the average price per gallon is $1.95, with no end in sight to the decreasing prices.
“I don’t think I’ve ever seen such a collapse in prices, even including the Great Recession,” wrote Patrick DeHaan, head of petroleum analysis for GasBuddy, in a press release. “What we’re witnessing is easily going to go down as the great collapse in oil demand, and for motorists hurrying to fill up today, they’re wasting their money as prices will continue to drop in the days ahead.”