News Column

BRIEF: Sacramento-area gas prices tumble for fifth consecutive week

August 11, 2014

By Mark Glover, The Sacramento Bee

Aug. 11--Sacramento-area motorists enjoyed a fifth consecutive week of declining gasoline prices, thanks to a relatively quiet hurricane season and crude oil prices settling below $100 a barrel.

National price tracker, which surveys more than 700 regional gas outlets daily, said the average retail price of gas in Sacramento region fell another 3.6 cents over the past week to $3.83 a gallon. That's 17.5 cents lower than one month ago but still about 6 cents higher than this time last year.

Nationally, the average price of gas fell nearly 2 cents over the past week to $3.47 a gallon, down about 15 cents from a month ago and a drop of about 8 cents below the year-ago level.

"Motorists taking those late-summer vacations continue to (get) rewards," said Patrick DeHaan, senior petroleum analyst with GasBuddy. "It's relatively rare to see prices holding lower in the mid-to-late summer as hurricanes tend to weigh on prices, and demand for gasoline is highest during the second half of the summer."



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Source: Sacramento Bee (CA)

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