Business & Real Estate

Sacramento-area gas prices fall below $2.50 a gallon

Despite concerns that gas prices would rise when the oil industry was included in California’s cap-and-trade program on Jan. 1, at-the-pump costs in the Sacramento area continue to fall – dropping below the $2.50-a-gallon threshold over the past week.

The region’s average retail price of gasoline fell 5.6 cents in a week’s time to $2.48 a gallon, according to national gas price tracker, which does a daily survey of more than 700 gas outlets in the region.

The current price is 34.9 cents less than it was last month and a whopping $1.04 below the average price one year ago.

Nationally, the average price was $2.12 a gallon, down 5.4 cents from a week ago, 48.6 cents from last month and $1.18 from last year.

Patrick DeHaan, senior petroleum analyst for GasBuddy, said Monday that 45 percent of all gas stations in the United States are now selling gasoline for less than $2 a gallon.

“The national average currently stands at its lowest since May 9, 2009, a date that saw 8.9 percent unemployment,” DeHaan said.

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