Gas Prices Drop to Under $2 a Gallon in Billings

In a week full of mostly crappy news, here's something to cheer you up a tiny bit. Gas prices in Billings have fallen to under $2 a gallon. According to gasbuddy.com (and my kid, who just called me from Costco), Costco and Sam's Club are the price leaders with regular unleaded at $1.95 a gallon. The Holiday at 8th and Grand has it for $1.98 and a couple of  Cenex and Conoco locations are coming in at $1.99.

Experts are saying gas prices could drop to under $1 a gallon in some parts of the country. A combination of plummeting oil prices (currently around $23 a barrel for WTI crude) and the coronavirus threat are the two causes for the fuel price drops at the pump.

In case you missed it, Saudi Arabia and Russia are in a pissing match about oil and the Saudis have decided they'll go all-in on flooding the market with cheap oil. This is not great news for shale oil production in the United States as most producers say that they've got to have prices of at least $40 a barrel to break even. However, it's positive news for the trucking industry that is working overtime to deliver necessities during the panic buying that is happening across the United States.

So IF we get an extra $1000 from the government and WHEN the coronavirus is over, it might be a good summer to take a family road trip? Stay positive, my friend.