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Reproduced from EIA; Chart: Axios Visuals

The amount of gasoline American drivers are consuming dropped to levels not seen in more than 25 years, government data shows.

Driving the news: When most of us are staying home and not driving, this is one of the most predictable—but nonetheless still staggering—upshots of the unfolding coronavirus crisis.

The big picture: As the pandemic threatens lives around the world, it’s shutting down a global economy driven by oil consumption. This, along with a related price war between Saudi Arabia and Russia, is sending oil prices—and therefore gasoline prices—into a tailspin.

The intrigue: President Trump is meeting Friday afternoon with oil-company executives to discuss ways to help the imploding sector.

By the numbers:

  • Gasoline consumption dropped nearly 30% in the week ending March 27, compared to the week prior.
  • The current average price for a gallon of gasoline is $1.95, compared to $2.44 a month ago, according to AAA data.
  • Expect both consumption and prices to keep dropping for weeks.

What we’re watching: How low prices could go—and how much they will rise in the future.

  • AAA spokeswoman Jeanette Casselano says it could breach the low mark following the 2008 economic crash, which was $1.68 in January 2009.
  • Patrick De Haan, head of petroleum analysis at GasBuddy, says the average could drop to below $1.50 a gallon. If it goes much lower than that, it hit the lowest level since 2004.

The bottom line: Consider it a cruel coronavirus irony that most people can’t—or at least shouldn’t—take full advantage of these rock-bottom prices. “But the good news is that even once this is over, I expect far more affordable prices this summer due to a hangover in oil supply,” De Haan emails.

Go deeper

GOP Rep. Andrew Clyde defends comparison of Jan. 6 riot to "tourists"

Rep. Andrew Clyde (R-GA) departs a press conference on June 14. Photo: Win McNamee/Getty Images

Rep. Andrew Clyde defended comments made during a House committee hearing in which he compared the deadly Jan. 6 Capitol riot to a "normal visit."

Why it matters: The Georgia Republican has routinely tried to downplay the events of Jan. 6, calling the mob of Trump supporters who breached the Capitol "tourists" and voting against awarding a Congressional Gold Medal to officers.

37 mins ago - Health

England lifts quarantine requirement for vaccinated EU, U.S. citizens

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Fully vaccinated travelers from the European Union and the U.S. will no longer need to quarantine when arriving in England, effective Aug. 2 at 4 a.m. local time, the U.K. government announced Wednesday.

Why it matters: It's a reflection of the British government's confidence in its highly successful COVID-19 vaccine rollout, despite the spread of the Delta variant. The move stands in stark contrast to the Biden administration's continued refusal to lift restrictions for travelers from the U.K. and Europe.

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Simone Biles is still a winner

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Simone Biles' leadership on the mat has never been questioned. After her shocking withdrawal from Tuesday's team final, she proved just as capable a leader off of it.

What happened: During the first rotation, Biles performed an uncharacteristically bad vault, appearing to lose herself in midair.