Average Sacramento-area gas price hits $4.10 a gallon

Published: Monday, Apr. 28, 2014 - 12:55 pm

Sacramento-area gas prices continue to rise, but energy analysts say they think the weeks-long trend will slow down soon.

The retail price of gasoline in the area rose 6.1 cents to an average of $4.10 per gallon over the past week, according to national gas price tracker GasBuddy.com, which conducts a daily survey of 720 gas outlets in Sacramento area.

The current price is 29.7 cents higher than one year ago and up 25.9 cents from last month.

Nationally, GasBuddy said the average price rose a comparatively modest 2.5 cents to $3.65 a gallon, up 16.5 cents from last year and 12.9 cents higher than a month ago.

“While the national average has risen for the 12th straight week, it is likely nearing a peak,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Gas price increases have continued since early February but are likely nearing an end as oil refineries conclude seasonal maintenance and the switchover to (more expensive) summer gasoline is nearing completion.”

DeHaan also said that oil inventories are at high levels, putting more pressure to push at-the-pump prices lower in coming weeks.

“For motorists, the peak to retail gasoline prices is likely very near...,” DeHaan said.

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

Read more articles by Mark Glover

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