PORTLAND, Maine — Editor's note: Congress recently passed a $2 trillion dollar stimulus bill to help the economy through the coronavirus pandemic. The video above explains what that means for you.
The average price per gallon of unleaded regular gasoline in Maine is $1.93, according to the monitoring website, GasBuddy.
That's just the average of prices across Maine, though. If you're around the Union area and have cash handy, you can fill up at Kenoco for just $1.20 a gallon of unleaded regular.
Maine's average price of $1.93 per gallon of gas is about 14 cents lower than last week, and about 8 cents lower than the current national average price per gallon. Maine's current average price per gallon of gas is also about 76 cents lower than the national average a year ago.
It's a growing trend in the United States. As of March 27, 2020, twenty-nine states were reporting gas price averages of less than $2.00 per gallon.
Part of the reason for the drop is the oil price war going on between Saudi Arabia and Russia. A breakdown in recent talks between the two countries sent the price of crude oil down last week to $22 a barrel; its lowest point in nearly two decades.
The coronavirus pandemic is also affecting prices as shutdowns and physical distancing are keeping people home and reducing demand for gasoline. Some states are already seeing gas prices of 99 cents a gallon in some areas.
The Great Recession of 2007-2009 sent gas prices below $2 per gallon for four months. Then, a 2016 crash in the oil market sent national average gas prices again below $2 per gallon which stayed there for three months.
Gas prices are expected to drop even more in the coming weeks as the COVID-19 pandemic continues.
You can find the current lowest gasoline prices in your area by clicking here.
At NEWS CENTER Maine, we’re focusing our news coverage on the facts and not the fear around the illness. To see our full coverage, visit our coronavirus section here: coronavirus.
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