Coronavirus could fuel lower US gas prices
Gas prices could slip another 15 cents
GasBuddy Head of Petroleum Analysis Patrick DeHaan discusses his outlook for gas prices.
The outbreak of the deadly and uncontrollable coronavirus in China could lead to the further decline of U.S. gas prices.
If the situation continues to spiral, prices could slip another 5 to 15 cents, GasBuddy Head of Petroleum Analysis Patrick DeHaan told FOX Business’ Stuart Varney Wednesday. The national average for regular gas in the U.S. is $2.45.
DeHaan noted that 8,000 gas stations in the U.S. are selling gas for under $2 per gallon, including one in Irving, New York.
CHINA OPENS NEW HOSPITALS FOR VIRUS PATIENTS, DEATHS TOP 560
China on Wednesday witnessed the most lethal day so far as the death toll rose to 563 with more than 28,000 cases reported throughout the country.
Passengers wear masks to prevent an outbreak of a new coronavirus in the high-speed train station in Hong Kong, Wednesday, Jan. 22, 2020. (AP Photo/Kin Cheung)
DeHaan said it may impact the Chinese economy if it continues to spread.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“Obviously we are talking about millions of Chinese essentially not going to work, not flying,” he said, and he added, “that could become worse.”
Thirty airlines have suspended service to China and 25,000 flights were canceled this week alone, according to OAG, a travel data company.
The Associated Press contributed to this report.