Business & Real Estate

Sacramento-area gas prices fall for a seventh consecutive week

Sacramento-area gas prices, which stubbornly refused to dip below $4 a gallon in the weeks leading up to Independence Day, continue to fall toward the $3.75 mark with the approach of Labor Day.

National price tracker, which surveys more than 700 regional gas outlets daily, said the average retail price of gas in the Sacramento region fell another 2.8 cents over the past week to about $3.79 a gallon. GasBuddy noted that it revised the previous week’s average price to $3.82 a gallon, after initially posting an incorrect average of $3.79.

Bottom line: Gas prices in the region have fallen for seven consecutive weeks.

The current price is nearly 12 cents lower than one month ago but 11.8 cents higher than this time last year.

Nationally, the average price of gas fell 1.3 cents over the past week to $3.43 a gallon, down 10.3 cents from a month ago and 10.5 cents lower than the year-ago level.

“With Labor Day right around the corner, most Americans will be seeing the lowest prices of the summer,” said Senior Petroleum Analyst Patrick DeHaan. “… And for those motorists in areas where gas prices tend to be high, just 1.5 percent of gas stations in the U.S. are selling for more than $4 a gallon, so even California is in on the party at the pump.”