See Sacramento’s falling gas prices in December, and how we compare across California

Sacramento area drivers are seeing gas prices averaging $4.30 a gallon Monday; down nearly $1 in a month and more than $2 since the June peak.

Over the past week, California gas prices have dropped 25 cents per gallon on average, according to AAA. It’s the biggest decrease in the state behind Montana, which had a fall of 26 cents.

The national average for a gallon of gas is $3.26, and California has an average fuel price of $4.53. The state is headed to prices below $4 by the end of the month or early next year, experts told The Bee.

The sharp decrease in gas prices can be attributed to low fuel demand and domestic gasoline stocks going up, according to the Energy Information Administration. This has resulted in a surge of supply at lower prices for consumers.

Over the summer, gas prices were hitting $6 a gallon. The high prices at the pump resulted in “record high profits” for oil companies for its 2022 third quarter.

Since then Gov. Gavin Newsom proposed “price gouging penalties” for oil companies in an effort to “keep money in Californians’ pockets.”