Gas prices continue to drop amid pandemic

According to AAA, the average price for a gallon of regular gas in Oregon is $2.47.

Posted: Apr 21, 2020 7:31 PM
Updated: Apr 21, 2020 8:29 PM

JUNCTION CITY, Ore.-- Gas prices around Oregon continue to fall with one Junction City gas station selling a gallon of gas for less than $2.

The Mobil Gas station on W. 12th Avenue is selling a gallon of regular for $1.85 for cash payments and $1.93 for credit. According to AAA, the average price for a gallon of regular gas in Oregon is $2.47. The last time gas prices were this low was in 2005.

Karen Crockett drives through Junction City every day on her way to work in Eugene and loves having low prices at the pump.

"I commute to Eugene every day for work, so it makes it nice to save a little money, but I’m sure it’s helping a lot of people who have been without work and everything," Crockett said. "Every little bit helps."

These low gas prices are because of a variety of factors. One of these is the drop in demand because people are staying at home. Oil tanks across the country are becoming full, creating extra supply.

Another factor is the uncertainty in demand. A barrel of oil dropped below $0 on Monday, the first time. This is because investors are worried about prices when it comes to May futures.

However, gas prices will eventually hit a floor because of state and federal taxes.

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