As the coronavirus epidemic continues, businesses are desperate to keep their heads above water and that means there are deals that no one knows how long will last.
When it comes to gas prices, demand is low and with stay-at-home orders, almost no one is flying.
The Oakland International Airport was eerie Tuesday night, even though flying these days is very cheap.
The pandemic is forcing airlines to drop some of their prices, a flight from Oakland to Los Angeles leaving next week was priced at $33.
“The real price discounts are being offered by industries hard hit by the virus travel tourism,” said Gary Schlossberg from the Wells Fargo Investment Institute. “These companies are doing what they can to maintain some type of revenue flow that’s why you’re seeing deals.”
Car dealerships are offering online shopping with zero financing and restaurants are working to lure people in with discounts when drive thru and walk-up menus are the only thing available.
The COVID-19 scare is also pushing down gas prices. It wasn’t hard to find fuel for under $3 a gallon, but people aren’t buying.
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“A lot of it has to do with demand has cratered, people are staying in their homes not driving like they used to,” Schossberg said. “As the economy recovers and we will, those deals will be withdrawn as business pickup. So they’re out there when we can use them the least.”
