Streak of lower gas prices stretches into a month in Sacramento area
08/04/2014 11:30 AM
08/09/2014 12:50 PM
Sacramento-area gas prices fell another 2.7 cents over the past week, the fourth consecutive week of declining prices.
National price tracker GasBuddy.com, which surveys more than 700 regional gas outlets daily, said the average retail price of gas in the area is now $3.87 a gallon. That’s nearly 16 cents lower than one month ago but still about 6 cents higher than this time last year.
The local year-over-year comparison is in contrast what’s occuring nationwide. GasBuddy said most Americans are now seeing the lowest early-August pump prices since 2010.
Nationally, the average price of gas is $3.49, down about 17 cents from a month ago and about 13 cents below the year-ago level. Energy experts pointed to ample refinery production and a recent drop in the price of crude oil, from about $107 a barrel to $98 a barrel.
GasBuddy analyst Gregg Laskoski said he’s “cautiously optimistic” that gas prices will continue to edge downward as fall approaches, barring a major hurricane or a disruption of current refinery production.
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