London gas prices drop below 70 cents
Gas prices in London have dropped to levels not seen in a decade.
According to GasBuddy.com, prices in the city dipped below 70 cents a litre on Wednesday morning, with the average price hovering around 65.9 cents a litre.
The cheapest gas in London was reported at the north-end Costco, where fuel is selling for 59.9 cents a litre.
Compared to a week ago when the average price was 95.7 cents a litre, prices have plummeted roughly 30 cents.
The low prices are being attributed to a lack of demand due to COVID-19 business closures and social distancing measures, as well as a refusal by Saudi Arabia and Russia to decrease production.
Oil prices are at their lowest level since 2002, according to GasBuddy.com.