The weeks-long pace of gas price declines in the Sacramento area slowed last week, and experts believe the consumer-pleasing slide is likely coming to an end.
The region’s average retail price of gasoline fell just 1.3 cents over the past week to $2.33 a gallon, according to GasBuddy.com, which does a daily survey of 720 gas outlets in the area. That’s 20 cents lower than a month ago and nearly $1.10 below what area motorists were paying a year ago.
Nationwide, the average price increased 2.7 cents over the past week to $2.05 a gallon, down $1.23 from last year and nearly 16 cents below the month-ago average.
“The four-month slide in gasoline prices has indeed come to a halt,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. He said a reduction in refinery output has been matched by sharp increases in wholesale gasoline prices.
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In the last three weeks, he said, “Wholesale prices on average are up 20 cents per gallon, so there’s no doubt now that the first-quarter climb is under way and is already being reflected in rising prices at the pump.”
Call The Bee’s Mark Glover, (916) 321-1184.