Business & Real Estate

Sacramento-area gas prices falling again; national fuel cost forecast is rosy

Sacramento-area gas prices are falling again in earnest.

Following a nearly 20-cent spike last month due to concerns over adequate fuel supplies, the average retail price of gas in the area fell 4.5 cents over the past week to $3.34 a gallon, according to national gas price tracker’s latest report on Monday.

That’s 12.6 cents higher than a month ago but 54.6 cents lower than the year-ago average.

Nationally, the average price fell 5.5 cents to $2.65 a gallon, down 11.6 cents from last month and nearly 85 cents cheaper than a year ago.

The falling prices were accompanied by GasBuddy projection of unusually low gas costs to close out 2015.

GasBuddy predicted that as many as 20 states could see average gas prices below $2 per gallon as the national average for December slips to $1.98. GasBuddy cited stable fuel supplies, the changeover to cheaper fall-winter gas blends and a sluggish crude oil market.