Business & Real Estate

Sacramento-area gas prices fall below $2.90-a-gallon mark

The average retail price of gasoline in the Sacramento area has dipped below the $2.90-a-gallon threshold.

Low crude oil prices and a plentiful domestic supply of gas helped drive down local at-the-pump costs another 3.6 cents over the past week to an average $2.89 a gallon, according to national fuel price tracker

That’s down 23.2 cents from last month and a decline of 57.2 cents from last year.

The national average, which plunged nearly 7 cents over the past week, is down to $2.69 a gallon. At some locales in Texas and Oklahoma, gas is going for less than $2 a gallon.

“So large are the declines and so low the prices that Americans are now saving over a quarter-billion dollars daily versus prices a year ago, or some 60 cents every gallon,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. DeHaan added that the trend of falling prices “is not over yet.”

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