Gas Prices drop to an all time low because of falling Oil prices

Gas Prices drop to an all time low because of falling Oil prices

Last Updated: 5 months ago

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Mobil Levin as of 15/03/20.

Credit, Source: /Sam Hudson

Gas prices on Monday, with prices, slashed to it’s all-time lowest caused travelers to buy cheaper gas. Original estimates were gradually getting higher and better over time because Iran within the geographical area had escalating tensions following the death of an Iranian leader Qassem Soleimani in an exceedingly U.S. airstrike sent markets reeling.

Saudi Arabia’s decision to set an oil price competition caused trouble last week for the markets.

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If oil prices in the future did increase as a result of extended conflict, that could affect people’s choices of how and where they travel. When gas prices get costlier, people make changes to their driving lifestyle.

Oil prices dropped the maximum amount as 30 percent on March 9, the foremost significant one-day decline since the Gulf war in 1991, sending shockwaves across economical markets, which were already reeling from fears the coronavirus outbreak that could paralyze the worldwide economy.

Credit, Source: /Sam Hudson

Gas prices at Mobil, New World and Gull had hit an all time low,

New World, $1.94 for 91 & $1.26 for Diesel. as of 16/03/20

Mobil, $1.94 for 91 & $1.24 for Diesel. as of 16/03/20

Gull, $1.87 for 91 & $1.26 for Diesel. as of 16/03/20

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