Gas price average dips in Sacramento. What will happen this summer?
Gas price averages barely started to dip this week — providing little relief to stressed drivers — but it’s not necessarily indicative of what’s to come this summer.
After hitting consistent record highs over the last month or two, the average price of regular gas in the Sacramento area inched down just few cents this week, according to the American Automobile Association. On Friday, the metro region’s average gas price was $6.41, down a cent from Thursday’s average.
“The good news is that, it’s only a penny — but since early May, the price of fuel has gone up or stayed steady, so any dip is probably welcome to people who are filling up,” said John Treanor, an AAA spokesman.
The price for crude oil continues to remain high at around $118 to $120 per barrel, Treanor said.
“As long as oil prices are really high, and demand is really high globally for fuel, prices are going to remain high,” he said.
This graph shows gas price fluctuation this year in Sacramento County and surrounding areas. The Sacramento region last broke a record for gas June 13 at $6.44 per gallon.
What will happen to gas prices this summer?
The price for gas in the state and across the country remains to be a “layered issue,” making it hard to predict when drivers could feel prolonged relief.
Demand is a large factor for determining the price of gas, Treanor said. And with summer right around the corner, more families will likely hit the road for vacation, increasing the demand.
“We so far have not hit a mark yet where Americans are lowering their demand for fuel,” Treanor said.
He added that appetite for travel has only gone up “now that COVID-19 restrictions have been lifted.”
The summer blend for gas tacks on an additional six or seven cents per gallon due to environmental factors in the hotter months, Treanor said. It is a nationwide product that rolls out Memorial Day weekend.
“It’s more expensive because of what’s in it,” he said. “It’s a cleaner burning fuel ... it just takes a different type of oil blend, and it’s more expensive.”
In an effort to help offset rising costs, President Joe Biden temporarily authorized the sale of gasoline with a 15% ethanol blend, according to NPR. This is typically banned from June to September due to “air pollution concerns.”