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Gas prices across Northeast Ohio dip below $2.00 as worries over the coronavirus send oil prices plunging

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Posted at 6:37 AM, Mar 09, 2020
and last updated 2020-03-09 06:51:43-04

PARMA, Ohio — Gas prices continue to drop below $2.00 across Northeast Ohio as the world’s largest economics delivered more worrisome cues Monday as concerns over the coronavirus sent stock and oil prices plunging.

Gas prices continue to dip below $2.00
Gas prices continue to dip below $2.00

The benchmark U.S. crude price fell as much as 30%, deepening a rout that began when Saudi Arabia, Russia and other major producers failed to agree on how much to cut output to prop up prices.

Residents looking to fill up will have no problem finding prices per gallon under $2.00.

Speedway—Ridge and Brookpark in Cleveland: $1.92
Speedway...Tiedeman Road and Brookpark Road in Parma: $1.92
Sheetz—Tiedeman Road just south of I-480 in Brooklyn: $1.89
True North—Brookpark and West 130th in Brook Park: $1.99
Sheetz—Snow and W130 in Parma: $1.96
Get Go—Snow Road east of Smith in Brook Park: $1.96
Circle K— Smith and Snow in Brook Park: $1.98

In Saudi Arabia, the Riyadh stock exchange suspended trading of state-owned oil giant Saudi Aramco after its share price sank by the daily 10% limit at the opening.

Investors already were on edge about the mounting costs of the coronavirus outbreak that began in China and has disrupted world travel and trade.

Anxiety rose after Italy announced it was isolating cities and towns with some 16 million people, or more than one quarter of its population.

In early trading, London’s FTSE 100 tumbled 8.6% to 5,910.87 and Frankfurt’s DAX shed 8% to 10,616.42. The CAC 40 in France lost 2.7% to 5,001.53.

On Wall Street, the future for the Dow Jones Industrial Average lost 1,255.00 points, or 4.9%, while the S&P 500 future contract also lost 4.9%.

Companies have been hit by travel and other controls that are spreading worldwide as the global number of coronavirus infections rose past 110,000 worldwide.