Sacramento-area gas prices continue to fall; sub-$3-a-gallon fuel could be here by Labor Day

Sacramento-area gas prices continue to fall, and at the current pace, they might dip below the $3-a-gallon threshold by Labor Day weekend.

The average retail price of gas in the area fell another 8.8 cents over the past week to $3.12 a gallon, according to gas price tracker’s latest report on Monday.

That’s 26.1 cents lower than a month ago and 68.6 cents lower than the year-ago average.

Nationally, the average price fell 7.1 cents to $2.60 a gallon, down 12.8 cents from last month and nearly 83 cents cheaper than a year ago.

“As we enter the final stretch of the summer driving season, autumn still looks to bring a big drop in gasoline prices,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Crude oil last week touched under $40 a barrel for the first time since the recession, and this week could bring prices that stay under that key level.”