---
title: "Plummeting Gas Prices Might See Return of $0.99 Per Gallon in US"
description: "The law of supply and demand at work."
date: "2020-03-16"
modified: "2020-03-16"
authors:
  - name: "James Gilboy"
    job_title: "Contributing Writer"
    link: "https://www.thedrive.com/authors/james-gilboy.md"
url: "https://www.thedrive.com/news/32607/plummeting-gas-prices-might-see-return-of-0-99-per-gallon-in-us"
categories:
  - "News"
---

# Plummeting Gas Prices Might See Return of $0.99 Per Gallon in US

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2017/03/gas-mileage-cafe-ap-photo.jpg>)
*\<em\>www.thedrive.com</em>*

International [travel restrictions](<https://www.thedrive.com/tech/32559/the-europe-travel-ban-will-not-affect-cargo-or-car-shipments.md>) and home quarantines have slashed demand for gasoline and other petroleum products worldwide, and accordingly, its price has sagged under the weight of supply that exceeds demand. According to [*Gas Buddy*](<https://www.gasbuddy.com/Charts>), prices per gallon of gas fell from an average of $2.48 on Feb. 21 to about $2.21 on March 16, and with the United States' response to the COVID-19 pandemic escalating, that price is expected to drop further—much further according to one of the site's analysts.

![message-editor%2F1584381915345-ch.gaschart.gif](<https://www.thedrive.com/wp-content/uploads/content-b/message-editor/1584381915345-ch.gaschart.gif>)
**GasBuddy.com**

*Gas Buddy* analyst Patrick De Haan tweeted Monday that he predicts the national average for a gallon of gas could steeply undercut $1.99 in the near future and that $1.49 is increasingly likely. [*AAA*](<https://gasprices.aaa.com/two-thirds-of-all-states-see-double-digit-pump-price-drop-on-the-week/>) reported Monday morning that prices in eight states have already hovered under $2 per gallon, and De Haan further posits that some states—likely those noted by AAA—may see per-gallon prices plunge below $1 per gallon. Even the most expensive states to fill a tank, like [California](<https://www.thedrive.com/news/31695/california-wants-you-to-eat-roadkill-in-2020.md>) and Hawaii, can expect to pay under $2 per gallon at some point in the near future according to De Haan.

https://twitter.com/_/status/1239533983983173632

De Haan's analysis likely factors in the shaky price of crude oil, which fell from a one-month high of $53.88 per barrel on February 20 to about $30. Crude oil prices have since rebounded, though [*Trading Economics*](<https://tradingeconomics.com/united-states/gasoline-prices>) forecasts gas prices' dip as only just beginning. Though its chart sends an unrealistic message about free gas, widespread work-from-home, quarantine, and widespread [bans on large social events](<https://www.thedrive.com/accelerator/32596/coronavirus-forces-circuit-of-the-americas-to-close-indefinitely-lay-off-staff.md>) will reduce Americans' petroleum consumption for an indeterminate length of time, and prices at the pump are likely to tempt more than a few families out to hoard high-octane like it's [toilet paper](<https://www.thedrive.com/tech/31765/at-last-something-useful-from-ces-a-toilet-paper-delivery-robot.md>).

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## Author
James is a former staff writer for The Drive. He has changed the conversation around electrification, debunked misinformation online, and become a prominent hunter of what he calls "automotive cryptids."

### Author social links  
[Instagram](<https://instagram.com/jamesgilboy>)

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- [Diesel Price Plummets by $1.58 Per Gallon in a Single Year](<https://www.thedrive.com/news/diesel-price-plummets-by-1-58-per-gallon-in-a-single-year.md>)
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- [Gas Prices Now Dropping Below $4 a Gallon in Some Parts of US: Analyst](<https://www.thedrive.com/news/gas-prices-now-dropping-below-4-a-gallon-in-some-parts-of-us-analyst.md>)
- [Gas Price War Between Stations Sees $0.62 Per Gallon in Western New York](<https://www.thedrive.com/news/32976/gas-station-price-war-sees-0-62-per-gallon-in-western-new-york.md>)
- [National Gas Price Average Drops to $1.80 Per Gallon, Lowest Since 2004](<https://www.thedrive.com/news/33122/national-gas-price-average-drops-to-1-80-per-gallon-lowest-since-2004.md>)
- [Kentucky BP Station with $0.99 Gas Prices Sells Out Almost Immediately](<https://www.thedrive.com/news/32649/kentucky-bp-station-with-0-99-gas-prices-sells-out-almost-immediately.md>)
- [Gas Prices Hit a New Record High: $4.17 a Gallon](<https://www.thedrive.com/news/44643/us-gas-prices-hit-a-new-record-high-4-17-a-gallon.md>)