Gas prices plummet to $1.35 a gallon

Posted 3/31/20

Gas prices have hit historic lows but few drivers are pulling in to the pumps.

Gas is as low as $1.30 a gallon in Texas today.

A few Lexington County stations are selling unleaded regular for …

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Gas prices plummet to $1.35 a gallon

Posted

Gas prices have hit historic lows but few drivers are pulling in to the pumps.
Gas is as low as $1.30 a gallon in Texas today.
A few Lexington County stations are selling unleaded regular for $1.35 a gallon.
In Lexington those are:
• Murphy Express, Knoll Station Dr & S Lake Dr
• Exxon, Old Orangeburg & Old Barnwell Rd
• Quick Serve, S Lake Dr & Pine Tree Ln
As demand drops, gas stations are getting squeezed.
Sales are down roughly 50% in some stores.
Lower prices usually encourage people to go. 
Not now. 
Demand is nose-diving as we hunker down to stem the CVD-19’s spread.
Gasoline has been selling at less than crude, even with US benchmark oil going at around $22 a barrel. 
Pressure on profits increases the chances refineries will close in the coming weeks to balance supply and demand and keep prices from falling farther.

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