A new report finds Sacramento area gas prices fell six cents per gallon in the past week. The average price for a gallon in the region is now $2.57.
This compares with the national average that has fallen two cents per gallon in the last week to $2.13 per gallon, according to gasoline price website GasBuddy.com.
The tracking service also says last year at this time, the average price in the Sacramento area was $3.35, and the year before that it was $3.89.
Including the change in gas prices in Sacramento during the past week, prices yesterday were 77.8 cents per gallon lower than the same day one year ago and are 16.6 cents per gallon lower than a month ago. The national average has decreased 14.6 cents per gallon during the last month and stands 52.7 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on August 1 in Sacramento have ranged widely over the last five years:
$3.35/g in 2015, $3.89/g in 2014, $3.82/g in 2013, $3.71/g in 2012 and $3.78/g in 2011.
Will Speer is a senior petroleum analyst with GasBuddy.
"As prices continue to fall in the heart of summer, motorists have been able to take advantage of the cheapest summer prices in over a decade," he says. "Demand for gasoline continues to surge as low prices have spurred more road trips and have swayed consumer vehicle purchasing habits."
Speer also says with the oversupply across the country, gasoline prices continue to drop even with the high demand.
According to Speer, "High gasoline inventories, which are up 11.8 percent from this time last year, will continue to be a thorn in the side of refiners and a boost for consumers as a seasonal downturn in gasoline demand is on the horizon after Labor Day."
Areas nearby Sacramento and their current gas price climate:
Stockton- $2.62/g, down 5.9 cents per gallon from last week's $2.68/g.
Modesto- $2.51/g, down 5.4 cents per gallon from last week's $2.57/g.
Oakland- $2.71/g, down 7.4 cents per gallon from last week's $2.79/g.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.