Lower Gas Prices an Unexpected Benefit of the Coronavirus
You'd think the price we pay at the pump for fuel for our vehicles would have nothing to do with the ongoing health crisis that has been spawned by the Coronavirus. While you might think that, you'd be wrong if you did.
Prices for fuel around the state have actually dipped by about .08 cents since last week. Industry analysts attribute the drop in local gas prices to fears over the Coronavirus. That outbreak has certainly slowed China's appetite for fuel consumption. That means there is more fuel available.
The state and the nation experienced a similar drop in prices during the 2003 SARS outbreak and epidemic that effected China and portions of Asia. However, that price drop didn't affect the global market nearly as much as this one has.
Industry analysts attribute the greater price drops because of Coronavirus to information that is being shared on social media. The fact that the information is often unvetted and unconfirmed have helped to intensify concerns around the world over the current health issue.
At last check, Baton Rouge had the lowest average fuel prices in the nation. A gallon of regular gasoline in Louisiana's capital city will set you back $1.83. The statewide average price for regular fuel is $2.15 a gallon. Meanwhile, in Shreveport, we've found fuel prices as low as $1.92 for a gallon of regular.