Sacramento-area gas prices continue to plunge, falling near the $2.75-a-gallon threshold over the past week.
The average retail price of gasoline in the area now stands at $2.76 a gallon, down nearly 7 cents from last week, 39.5 cents from last month and 88.2 cents lower than last year, according to national gas price tracker GasBuddy.com, which does a daily survey of more than 700 stations in the region.
The area average has fallen about 17 cents over the past two weeks alone, with stable fuel supplies and crude oil hovering well below $50 a barrel.
By comparison, the national average price of gas is $2.29 a gallon, down 34.1 cents from last month and $1.04 below the year-ago average.
Patrick DeHaan, GasBuddy senior petroleum analyst, noted that “nearly one in four (U.S.) stations are now selling gasoline under $2 a /gallon…With much of the country now on (less expensive) winter gasoline, there is less pressure on prices during the upcoming fall maintenance season at the nation's refineries. I continue to believe that the national average will fall under $2 a gallon, perhaps even sooner than expected.”