Gas prices dip below $2 dollars a gallon in North Carolina

HALF MILLION PEOPLE, WILL GET

THE CORONAVIRUS OVER THE NEXT

EIGHT WEEKS.

>>> GAS PRICES ARE DROPPING

ACROSS THE COUNTRY AND IN THE

TRIANGLE AS WELL.

WRAL'S JOE FISHER IS TRACKING

THOSE PRICES.

ALTHOUGH THE PRICES LOOK GOOD IT

IS KIND OF SAD BECAUSE THERE IS

NO PLACE TO GO, JOE.

>> Reporter: THAT IS EXACTLY THE

REASON WHY THE PRICES ARE SO

LOW, ACCORDING TO ANALYSTS.

THE SUPPLY IS SO GREAT AND THE

DEMAND IS REALLY LOW AS SO MANY

MORE PEOPLE ARE HEEDING THE

ADVICE FROM THE OFFICIALS AND

HUNKERING DOWN AT HOME.

THIS BP GAS STATION ON 401 IN

GARNER, $1.95.

I SAW OTHER PLACES AROUND

RALEIGH AND GARNER OVERNIGHT AT

$1.89.

RIGHT NOW THE AVERAGE IN RALEIGH

IS $1.99 A GALLON, WHICH IS

ACTUALLY DOWN 15 CENTS FROM JUST

LAST WEEK TO GIVE YOU CONTEXT ON

HOW MUCH THE PRICES HAVE

DROPPED, REALLY PLUMMETING.

ANALYSTS ARE SAYING THERE IS NO

NEED RIGHT NOW TO RUSH OUT AND

FILL UP YOUR TANKS.

THAT IS BECAUSE THE SUPPLY IS SO

GREAT AND THE PRICES ARE

EXPECTED TO GO DOWN ANOTHER 30

CENTS OR MORE IN THE COMING

WEEKS.

PART OF THE REASON FOR THIS

DRASTIC PRICE DROP IS BECAUSE OF

A PRICE WAR RIGHT NOW BETWEEN

SAUDI ARABIA AND RUSSIA.

THE PRESIDENT DONALD TRUMP ASKED

YESTERDAY DURING A PRESS

CONFERENCE WHETHER OR NOT HE

WOULD BE INTERVENING IN THAT TO

SLOW DOWN PRODUCTION TO TRY TO

STABILIZE THE GAS PRICES.

HE SAID HE WAS CONSIDERING THAT.

STILL, THE SUPPLY WAS SO GREAT

AND SO MUCH OIL HAS ALREADY BEEN

PRODUCED, THAT AT LEAST IN THE

SHORT-TERM HERE, WE WILL

CONTINUE TO FEEL THAT RELIEF AT

THE PUMP.

AGAIN, NO NEED TO RUSH OUT.

ALSO FOR PEOPLE TO FILL UP WITH

DIESEL FUEL, THOSE PRICES ARE

EXPECTED TO GO DOWN AS WELL.

I'M JOE FISHER, WRAL NEWS, LIVE