Business & Real Estate

Finally, gas prices fall back in Sacramento area

Sacramento-area gas prices declined last week for the first time in about three months, although unleaded regular was going for nearly $4.20 or more at numerous stations throughout the Central Valley over Mother’s Day weekend.

The average retail price of gasoline in the Sacramento area fell 4.1 cents to $4.07 a gallon last week, according to national gas price tracker, which does daily surveys of 720 gas outlets in Sacramento. That’s still 11.2 cents higher than a year ago and 12.6 cents above last month’s average.

Nationally, prices fell 1.8 cents to an average of $3.62 a gallon, up 2.9 cents from last month and 4.9 cents higher than the average price a year ago.

Numerous factors have put pressure on gas prices to retreat in recent weeks, including relatively uninterrupted production at refineries and stable crude oil prices.

“Pump prices have continued to recede across much of the country, although decreases have been small so far,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “The national average peaked in the closing days of April and has moved down a few cents per gallon...We’ll likely continue to see prices dropping as we approach Memorial Day.

He said California continues to see the largest decreases “thanks to increasing supply and falling wholesale prices.”