(CNN) – The oil price war brought on by the coronavirus epidemic could push gas prices below $2 a gallon in the coming weeks.
USA Today cites the head of petroleum analyst at GasBuddy, a fuel-savings app.
He says prices could be driven below the $2 a gallon mark if COVID-19 fears continue, and the global oil supply does not shrink.
It comes after major oil-producing nations failed over the weekend to agree to a plan to boost crude oil prices.
AAA reports the national average price of gas is currently at $2.38
At a meeting in Vienna Friday, Russia refused to go along with OPEC’s proposal to rescue the coronavirus-battered oil market by further cutting production.
Then, Saudi Arabia shocked the market by launching a price war against one-time ally Russia.
- Rockford Police investigate Auburn St. shooting
- Rockford teens charged after police find loaded gun in car
- After disaster declaration, Ogle County officials say storm damage is like nothing they’ve ever seen
- Rockford house fire possibly caused by severe weather, officials say
- VP Pence tweets “America needs College Football”