Haven’t filled up lately? Here’s how cheap Bay Area gas isVallejo Times-Herald, April 13, 2020
The price of gasoline continues to tumble because of the lack of demand worldwide, bringing Bay Area prices below $2.30 a gallon.
The average price nationwide is now $1.87 a gallon, according to AAA. That’s down from $2.30 a month ago and almost a dollar below the year-ago level of $2.82.
A handful of stations in Oklahoma and Wisconsin were charging below 80 cents a gallon last week.
In the Bay Area, the cheapest prices are in the East Bay: $2.29 at some Costcos and independent stations in Concord, Oakland and Union City, according to GasBuddy. The South Bay’s lows are around $2.35, and the Peninsula’s about 5 cents more.
Farther afield, $2.19 has been seen in Sacramento and Modesto, and prices below $2 were noted near Oroville and Folsom. Across the line in Reno, you can find $1.85.
In Hawaii, which has the nation’s most expensive gas, $2.35 is available in Honolulu but Kauai stations are still charging $3.60.
Of course, few drivers can take advantage of cheap gas because of the shelter-in-place orders. Cheap crude will continue to pose a serious threat to U.S. oil companies, especially independent frackers that piled on too much debt. Rystad Energy recently estimated that 140 US oil producers could file for bankruptcy this year if oil stays at $20 a barrel, followed by another 400 in 2021.