Average gas price in Sacramento area zooms past $4 threshold

Published: Tuesday, Apr. 22, 2014 - 10:18 am
Last Modified: Tuesday, Apr. 22, 2014 - 12:37 pm

The average retail price of gasoline in the Sacramento area has blazed past the $4 threshold, with seemingly no let up in sight.

The at-the-pump cost of gas rose more than 7 cents over the past week to an average $4.03 a gallon, according to the latest report by national gas price tracker GasBuddy.com, which does a daily survey of 720 fuel outlets in Sacramento.

The current average is 21.6 cents higher than one year ago and up nearly 22.5 cents from last month.

Nationally, the cost of gas climbed 2.3 cents over the past week to an average $3.62 a gallon – up nearly 12 cents from last month and 12.1 cents higher than at this time last year.

“The national average now stands at its highest level since last August … with the worst jumps in areas of California, and southern states, where prices have increased anywhere from 15 to 30 cents per gallon in some cases,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.

Analysts have cited a stew of factors driving gas prices higher statewide – rising crude oil costs linked to tensions in Ukraine, refinery conversions to pricier spring-summer gas blends and recent spikes in wholesale gas prices in California.

DeHaan said prices are likely to continue rising in the short-term, but “we could see some relief arrive as soon as May rolls in.”

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

Read more articles by Mark Glover

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