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HOW LOW CAN GAS PRICES GO?

By Charles Apple
The Spokesman-Review

Just when you don’t need gas – because there’s nowhere to go – gas prices have hit their lowest point in 12 years.

And that’s one of the reasons why: Folks are staying at home, so demand is low. Another reason is that oil producers in Saudi Arabia and Russia ramped up production recently, flooding the market in hopes of pushing American oil companies out of business. These two factors have combined to create the eye-popping numbers you see here.

Weekly U.S. retail gas prices

National average, dollars per gallon

1990-2003

2003-2020

Average gas prices in Washington and Idaho

Average statewide gas prices

Sources: U.S. Energy Information Administration, AAA, USA Today, Investopedia, Marketwatch, CNBC, the Associated Press