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Friday, March 29, 2024

Gas prices

Credit: WCBI
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Gas prices
Gas prices
Gas prices decreasing

Intro centered it's enough to make you do a double take.

The price at the gas pump has dropped dramatically.

Our bobby martinez spent the day asking why.

He joins us live from a columbus gas station.

Gas prices here in mississippi haven't been this cheap in four years.

In fact, the last time we saw a sustained period of gas below $2 per gallon was all the way back in 2004.

Here's why.

Gas prices here in the golden triangle continue to go down.

But for many people who live and work here, a statewide shelter in place order means travel is limited.

"got cheap gas, but nowhere to go."

With less traffic on the road... fewer people are in need of fuel..

Johnny fair, president of fair oil company in louisville..says covid-19 has made an impact on gas prices.

"you seen a lot of prices fall at the pump over the last few weeks obviously because people staying at home and not driving much you know there's a lot of people that their car probably hadn't moved much in the last month so that's had an affect on things."

On cam stand up: and to make matters even more interesting... u.s. oil prices have dropped to negative territory in the trade market this week.

A situation fair is keeping an eye on.

"the big oil companies that pull oil out of the ground.

We're worried about them.

When oil prices get too low they quit producing and that's when we start losing a lot of oil industry jobs in the us economy."

Candace patridge lives in new york.

But she can't return home until the city reopens... she says she is not surprised by the low gas prices.

"i feel like it's inevitable because it's a supply and demand situation.

If we can't go anywhere we can't get in no cars.

There's also less manufacturing demand so as we see oil prices went negative this week in the market it's because no one is flying no one driving no one's at work as long as that holds true there's nothing we can really do about this."

Customer lashell hughes is happy with the low gas prices.

"well you know there's really not that much moving around so it's kind of good that the gas prices is going down you know it will still help us in the long run."

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