Business & Real Estate

Sacramento-area gas prices continue to plummet

Sacramento-area gasoline prices continue their autumn free-fall.

National price tracker, which surveys more than 700 regional gas outlets daily, said the area’s average retail price was $3.41 a gallon, down about 10 cents from last week. The current price is 25.5 cents lower than a month ago and 28.6 cents lower than last year.

It was the 15th consecutive week of declining at-the-pump costs.

Nationally, the average price of gas was $3.12 a gallon, a drop of 22.9 cents from last month and 23.1 cents lower than a year ago.

Energy analysts believe prices will continue to fall well into the holiday season, pushed downward by robust gas supplies and steady refinery production. Crude oil, which was trading far above $100 a barrel earlier this year, is now edging closer to $80.

Patrick DeHaan, GasBuddy senior petroleum analyst, noted that the national average now stands at its lowest point since Jan. 18. At its current pace of decline, it could reach its lowest level since late 2010 by the end of this week.

“Every day, Americans are spending over $100 million less on their gasoline purchases than they did a year ago,” DeHaan said.

Call The Bee’s Mark Glover, (916) 321-1184.