Coronavirus Effect: California Gas Prices to Drop Amid Turmoil – March 2020
The San Francisco Chronicle investigates how the Coronavirus is affecting gasoline prices. While consumers may be happy about price decreases, Severin Borenstein, Faculty Director of the Energy Institute, says prices may not stay low for very long.
“Within four to six weeks, it could fall by 50 cents a gallon, said Severin Borenstein, faculty director of the Energy Institute at UC Berkeley’s Haas School of Business…We’re going to see oil prices gradually creep back up again…Looking at the past, when we had the falling outs, none of the producers want prices this low, they are certainly trying to figure out how to get them back up again.”
Photo: San Francisco Chronicle