Business & Real Estate

Average price of gas statewide dips below $3 a gallon

The average retail price of gasoline in California has dipped below $3 a gallon, a milestone last seen in February.

On Tuesday, national price tracker said the average price of gas statewide was $2.97 a gallon, down nearly 40 cents from last month and 72 cents below the year-ago level.

The average price in the Sacramento area on Tuesday was $2.70 a gallon, down 31 cents from last month and 90 cents less than the year-ago average.

GasBuddy analysts said they expect prices to continue to fall gradually in the weeks ahead, with the production of cheaper fall-winter gas blends, ample fuel supplies and crude oil going for substantially less than $50 a barrel.

Mark Glover: 916-321-1184, @markhglover