Region's average gas price drops 3.4 cents

Published: Tuesday, Jul. 30, 2013 - 12:00 am | Page 6B
Last Modified: Tuesday, Jul. 30, 2013 - 6:54 am

Sacramento-area gasoline prices, which have been bouncing up and down of late, fell 3.4 cents over the past week.

The average retail price of gas in the Sacramento area is $3.83 a gallon, according to Monday's weekly report by national price tracker GasBuddy.com, which surveys 720 stations in the area.

Area prices are now 15.6 cents higher than one year ago but 0.9 cents per gallon lower than a month ago.

Nationally, the average price of gas fell 2.7 cents over the past week to $3.65 a gallon – 15 cents higher than a year ago and up 14 cents from last month.

"After an impressive run that saw the national average begin to approach its springtime high, it appears prices have plateaued, at least for now," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Oil prices appear to be taking a breather, but with the peak of hurricane season approaching, a continued upward trajectory in gasoline prices is certainly possible, should we see a major storm take aim for the Gulf (of Mexico).

"Crude inventories have also declined four consecutive weeks, and large decreases in crude inventories in the near future may be cause for rising oil prices as well."

Call The Bee's Mark Glover, (916) 321-1184.

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