Business & Real Estate

Gas prices dip below $3.50-a-gallon threshold in Sacramento

Sacramento-area gas prices closed out May on the decline.

The average retail price of gas in the area fell 5.9 cents over the past week to an average $3.44 a gallon, according to Monday’s report by GasBuddy.com, which does a daily survey on more than 700 gas outlets in the region.

That’s 2.2 cents lower than a month ago and 57 cents less than the year-ago average.

In California, ample fuel supplies and steady refinery output have helped push prices lower, analysts said.

Nationally, the average price rose just 0.4 cents in a week’s time to $2.75 a gallon, up 14.8 cents from last month but 92.8 cents per gallon lower than the average cost one year ago.

“Gasoline prices are poised to begin declining at a faster pace after staying relatively steady across much of the U.S. this past week,” said Patrick DeHaan, GasBuddy senior petroleum analyst.

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