Wisconsin has the distinction of having the lowest gas prices in the nation.
A survey by the website gasbuddy.com found the average price is $1.42 for a gallon of unleaded, down 15 cents since last week. One station in Waukesha is under a dollar a gallon. Oil-producer Oklahoma is behind Wisconsin in second at $1.45 per gallon.
Senior Petroleum Analyst Patrick DeHaan says with schools and businesses shut down, the demand for gasoline has plummeted.
Besides lower demand, DeHaan says the second and third top oil producing nations, Saudi Arabia..
"There was an OPEC meeting about a month ago to discuss cutting oil production. Instead of an agreement on cutting oil production, Saudi Arabia and Russia both left the meeting saying they're going to increase production instead, essentially an oil production war and that has led oil prices down to as low as $20 last week..."
Prices rallied to 26 dollars a barrel this week on speculation that the two nations would cut production. DeHaan has a tip about filling up at the gas pump amid the coronavirus outbreak...
"Remember to be hygienic when filling up. A lot of germs on gas pumps. I'd remind people to stay clean and staying healthy by at least using some hand sanitizer if not delaying purchases of gasoline if you can...."
He thinks gas prices will remain low for the foreseeable future.
