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Gas prices could drop below $1 per gallon, Gas Buddy predicts

Posted at 10:07 PM, Mar 23, 2020
and last updated 2020-03-24 05:58:17-04

GRAND RAPIDS, MIch. — Dropping gas prices won't slow down any time soon, according to the head of petroleum analysis with Gas Buddy, Patrick De Haan.

“There is a potential that those $.99 a gallon price could start showing up in areas of West Michigan here over the next one to two weeks,” Patrick De Haan said.

Right now gas prices are floating anywhere from $1.30 to $1.70 a gallon.

“These gas prices you’re seeing today will likely go down another 25 to as much as 50 cents a gallon,” De Haan said.

That's not good news.

“I like 99-cent gas as much as everyone else (but) the collateral damage is almost too significant this time,” De Haan said.

The last time there were prices this cheap, aside from a few weeks in 2016, was the Great Recession.

"Back in late 2008 early 2009 for two to three months, we saw prices this low,” De Haan said, "but beyond that, it’s been since the early 2000s that we saw prices this low."