Gas prices plummet to $1.35 per gallon

Special To The Chronicle
Posted 4/2/20

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 …

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Gas prices plummet to $1.35 per 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 covid-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 coming weeks to balance supply and demand and keep prices from falling farther.

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