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Gas prices drop as countries lock down

Gas prices drop as countries lock down

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The cost to fill up at the pump in North Dakota is at a four-month low as coronavirus cases rise globally.

The statewide average of $2.02 per gallon of gasoline is 3 cents lower than last week, according to AAA. In Bismarck, the average price on Monday was $1.99.

AAA reports that two-thirds of gas stations in North Dakota are selling gasoline for below $2 per gallon.

Gasoline prices tend to reflect crude oil prices, which have been low since they first dove this past spring amid a price war between Russia and Saudi Arabia, as well as the onset of the pandemic. With less travel taking place this year, demand for oil is down.

Concerns about a rise in cases of COVID-19 globally, as well as new lockdown policies in some countries, have pushed prices down in recent weeks, according to AAA. England is the latest country to enact a broad lockdown, which takes effect Thursday.

This time last year, North Dakota drivers paid an average of $2.55 per gallon.

Reach Amy R. Sisk at 701-250-8252 or amy.sisk@bismarcktribune.com.

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