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Gas prices plummet as pandemic drives down demand for oil

Oil prices have plummeted amid dropping demand driven by the COVID-19 pandemic. - Reuters


Gas prices have plummeted in Nova Scotia amid a freefall in oil prices driven by the COVID-19 pandemic's economic impacts.

Halifax service stations were selling regular self-serve gas for 89.1 cents a litre on Friday, a huge drop from the $1-plus levels drivers were paying just weeks ago. 

Oil prices have dropped from about $53 to about $32 per barrel over the past three weeks as demand tanked amid the spread of the COVID-19 virus. 

Over 132,000 cases of the respiratory illness have been reported across the world and more than 4,900 people have died. 

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