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Low gas prices due to COVID-19 could have long-term impacts

Source: Sam Thompson, globalnews.ca, April 22, 2020

The impact of the coronavirus pandemic may have reverberations across the oil industry for a few years.

The low cost of gas these days might seem like a welcome change, but the drop in oil prices due to the coronavirus pandemic could be devastating if they stay low for some time, according to an instructor at one American university.

Rob Warren, a Manitoban who teaches market validation and competitive intelligence at the University of North Dakota, told 680 CJOB that the current situation impacts more than just the cost at the pumps.

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