Gas prices plummet

As Coronavirus cases rise, gas prices plummet in California.

Oil drops& so does the price you pay for a gallon of gas at the pump.

Action news now's vanessa romo talked to local gas stations about how coronavirus is impacting sales.

The virus is putting the breaks on sales at this local gas station as well as many others here in chico& but they say this romo talked to local gas stations about how coronavirus is impacting sales.

The virus is putting the breaks on sales at this local gas station as well as many others here in chico& but they say this drop in gas prices may attract more business& local gas stations are taking a hit during this coronavirus pandemic& a lot of people are nervous and scared& this shell on esplanade and cohasset says bankruptcy may be at the end of its road& it says it is selling 11- hundred gallons less a day& and selling 7- hundred dollars less inside& & it was very slow& especially on the weekends, that's when our business went very down but as of now it's slowly getting better& but we could be doing better.

That's because gas prices have dropped.

According to triple a the average cost of gas is 2-dollars and 80 cents and it will continue to dop& "it helps us a lot because we are usually $4 a gallon and we're one of the first gas stations into town so they can see the price and say oh that's cheap."

The 76 on esplande also says it is able to stay afloat due to the essential items it carries& people are not wanting to go to bigger stores because its quick and easy, not as many people and they get what they need and go.

Although some gas station are managing& refineries are not& the marathon petroleum company is temporarily shutting down it's massive martinez refinery in the bay area.

The company said it is seeing a 60 percent drop in demand.

"there's just way too much gasoline being produced, and the refineries have no place to put it.

There's a limited amount of storage& and so somebody was going to have to stop producing.

Borenstein of uc berkeley's hass school of business studies the oil industry and called marathon a major california producer.

He says other refineries in the state are likely to shut down or drastically reduce production, too and local gas stations say the same, but are hopeful things will turn around for them due to this drop in price.

"were ready for it to go back to normal so we're trying to get it going& i drove around all day today to gas stations and most of them are below california's average& even this one& the 76 on esplanade is starting at 2.69, in chico, vanessa romo ann.

Many gas stations say like most stores--- they are seeing high sales in essential items like toilet paper, lysol items and more.

Many gas stations say like most stores--- they are seeing high sales in essential items like toilet paper, lysol items and more.

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