ORLANDO, Fla. — For the first time since 2016, gas prices now average less than $2 a gallon in Florida.
AAA reports regular unleaded gasoline averages $1.97 a gallon. That’s $0.78 less than it was at this time in 2019, and $0.40 less than it was in the last month.
The coronavirus is keeping many people at home, resulting in a lower demand for gasoline and other oil-based products.
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“People are driving a lot less,” said W.D. Williams of AAA. “They are not taking extended trips. They are not taking local trips. The airlines are flying fewer routes than they have been. So, all across the board, fuel is being used as a much lesser rate.”
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Williams says every aspect of the tourism and transporation industries have felt the effects of the virus. 75% of gas stations report listing prices below $2 a gallon. AAA, which says demand has already been cut by 50%, forecasts prices will drop even lower, possibly sinking below $1.60 a gallon.
“Usually at this time a year, we are seeing gasoline prices increasing, because people are getting out and traveling more. The refineries are switching over to their summer blends of gasoline, which are more expensive to produce. But, because of the reduced demand right now, we are seeing gasoline prices plummet.”
News Service Florida contributed to this report.