Business & Real Estate

AAA reports gas prices plunge in October, both California and nationwide

Gasoline prices in Northern California and statewide plunged nearly 40 cents a gallon from October to November, according to the latest monthly AAA gas price survey released Tuesday.

AAA said the average price of unleaded regular gas in Northern California was $3.19 a gallon, down 39 cents from the Oct. 14 survey. Statewide, the average at-the-pump price was $3.21 a gallon, down 38 cents from last month.

In Sacramento, AAA said the average cost for unleaded regular was $3.08 a gallon, a decline of 40 cents from October. Just two months ago, the local average was $3.75 a gallon.

“Absent of any unanticipated market-moving events this winter, the retail price for gasoline is expected to remain relatively low,” said Cynthia Harris, AAA Northern California spokeswoman. “As consumers adjust to falling oil prices, California motorists can enjoy some of the lowest prices during a holiday season since 2009.”

The least expensive average price in Northern California was in Marysville, at $2.93 per gallon, which matched the current average price nationwide. Yreka has the highest average price in the region at $3.52 a gallon.

Nationwide, AAA said the average price of gasoline has dropped for 46 consecutive days, and the $2.93-a-gallon average U.S. price is the lowest since Dec. 4, 2010.

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