Gas prices have been steadily dropped in our area and they may decrease some more.
The reason may be the dangerous coronavirus. The deadly disease is having a significant effect on the oil industry.
To stop the spread of the coronavirus, China has crackdown on travel, instituting a lockdown that affects 56 million people, which means a big drop in demand for gasoline.
Airlines have also scaled back flights to the country, leaving a lot of jet fuel and diesel on the global markets.
All of that is sending prices tumbling which may be good news for drivers but bad news for the American oil industry.
The New York Times estimates some producers could lose as much as 60 percent of their profits.
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