Over the next two months, average gasoline prices in California could decline to the lowest levels seen in nearly four years, national gas price tracker GasBuddy.com predicted on Thursday.
Other West Coast states and the Rocky Mountain region also can expect plunging prices, perhaps 15 to 30 cents between now and early December, according to GasBuddy.
Some gas stations in Colorado, New Mexico, Utah and Arizona are already selling gasoline for less than $3 a gallon.
The ongoing drop in fuel costs comes amid global crude prices that are $25 barrel below springtime highs, slumping gasoline demand, a return to cheaper fall-winter blends of gasoline and booming U.S. oil production.
“This should result in a big break for motorists on their fuel bill, especially when compared to what we saw this summer,” said Patrick DeHaan, GasBuddy senior petroleum analyst.
GasBuddy, which surveys more than 700 regional gas outlets daily, said the average retail price of gasoline in Sacramento on Thursday was $3.55 a gallon, down 5 cents from last week and a drop of nearly 20 cents in one month. Statewide, gas was going for an average $3.65 a gallon, down 4 cents from last week and a decline of 16 cents from last month.