May 22, 2020 - Energy & Environment

Gas prices are cheap as driving rebounds from coronavirus shutdowns

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Data: U.S. Energy Information Administration; Chart: Axios Visuals

Pump prices are at their lowest point in years heading into the long holiday weekend, but it's hard to say how many people will take advantage of them.

Driving the news: The average U.S. price of gasoline as of early in the week was $1.88-per-gallon, per the U.S. Energy Information Administration. It's the lowest overall price since early 2016.

  • The group AAA, which provides similar but not identical pricing data, says it's the first time average prices are under $2 heading into Memorial Day weekend since 2003. The average price today is $1.94-per-gallon, per AAA.

One big question: That's how many people will be traveling over the long weekend. Driving nationwide has bounced back a lot in recent weeks.

  • Nonetheless, AAA is declining to estimate holiday weekend travel for the first time in 20 years "due to COVID-19 impacts on the underlying economic data used to create the forecast," the group said.

Go deeper: How coronavirus will alter natural gas markets

Go deeper

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The European Union is considering an $826 billion coronavirus rescue package to fund recovery efforts for all member states, European Commission President Ursula von der Leyen said Wednesday.

By the numbers: More than 5.6 million people have tested positive for COVID-19 and over 2.3 million have recovered from the virus. Over 355,500 people have died globally. The U.S. has reported the most cases in the world (over 1.6 million from 15.1 million tests).

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

More than 100,000 Americans have died of the coronavirus, according to data from Johns Hopkins — a milestone that puts the death toll far beyond some of the most tragic events in U.S. history.

By the numbers: Over 1.6 million have tested positive in the U.S. Nearly 354,000 Americans have recovered and over 15.1 million tests have been conducted. California became the fourth state with at least 100,000 reported cases of the coronavirus on Wednesday, along with Illinois, New Jersey and New York.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 5,682,389 — Total deaths: 354,944 — Total recoveries — 2,337,385Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 1,697,459 — Total deaths: 100,276 — Total recoveries: 391,508 — Total tested: 15,192,481Map.
  3. Public health: Fauci says data is "really quite evident" against hydroxychloroquine — Nearly half of Americans say someone in their household has delayed medical care.
  4. States: California hospitals strained by patients in MexicoTexas Supreme Court blocks mail-in expansion to state voters.
  5. Business: MGM plans to reopen major Las Vegas resorts in June — African American business owners have seen less relief from PPP, Goldman Sachs says.
  6. Tech: AI will help in the pandemic — but it might not be in time for this one.
  7. 1 🎶 thing: Local music venues get rocked by coronavirus.
  8. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  9. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Updated 1 hour ago - Politics & Policy