Crude oil prices dip into negative numbers

    Photo credit to Shahid Abdullah.

    Washington, DC (ABC) - The move means if you have oil you'd have to pay somebody to take it.

    Experts said it has to do with fears from low demand amid COVID-19.

    The drop in oil prices will also result in cheaper gas prices in the United States.  Experts predict the lower prices to hit within two weeks.

    The oil still must be refined and transported to gas stations that set the price.

    Some gas stations are offering gas for $1.00 per gallon.  Stations in California continue to charge between $3.00 and $4.00 per gallon.

    There has been a decrease in demand for gasoline.  Airlines aren't flying as much, drivers aren't commuting to work and taking trips and storage tanks and reserves are full.






    More from News of the North

    Current Conditions

    Crude Oil Price