Last time when prices at the pump were so low—about four years ago—it was heaven for drivers. Now, with lockdowns across most states, it is anything but: gasoline may indeed be cheap, but nobody is driving. Over the two weeks to April 1, the Energy Information Administration (EIA) reported a cumulative increase in gasoline inventories of as much as 18 million barrels. This comes at a time when people would typically be preparing for the start of the summer driving season. Not this year. The average price of gasoline in the United States as of last Friday was $1.883 per gallon, CNBC reported this week, citing data from AAA. That’s down by almost one-third from this time last year, and it could fall further as demand slumped to a 50-year low last week. According to AAA, gasoline prices could fall below $1.70 a gallon if demand destruction continues. Unfortunately, […]