Consumers will benefit
By JOSH RESNEK
The near to complete collapse of the price for a barrel of West Texas crude oil Monday will ultimately lead to the lowest cost per gallon heating oil for Everett consumers since the early 1980’s.
Also, the price for gasoline is going to plummet after already dropping dramatically during the past four weeks.
If nothing else, the shut- down of the American economy because of the coronavirus pandemic has cut demand so deeply for oil and gasoline, is something to marvel at.
Home heating oil is expected to cost Everett consumers about $1 a gallon when all is said and done in the weeks to come.
Gasoline per gallon is going to fall below $1 a gallon in the next few weeks.
Both heating oil and gasoline are expected to drop even lower through June, as industry experts say demand will continue falling with nowhere to put the world’s excess production of oil.
If you are a homeowner still heating with oil, a 200 gallon tank will cost about $200 very shortly – of course – the heating season will be over and the price will dip even lower because demand falls during the warmer months.