State Gas Prices Up Nine Cents
Walnut Creek, CA– California gas prices are up nine cents from last month, says AAA.
The state’s average price for a gallon of regular, unleaded gasoline is $4.26. For comparison, that’s $1.10 higher than California’s average price on this date last year.
Among all 50 states, California is now tied with Connecticut and Illinois for the third highest state average price for regular, unleaded gasoline.
“After hitting a plateau of sorts for several days last week, prices at the pump have dipped slightly,” explained AAA Northern California spokesperson Matt Skryja. “It’s tough to say how long this dip will last, given that the lower oil prices of last week have now rebounded a bit. Motorists need to keep in mind that we are just a couple of weeks away from the Memorial Day weekend. This holiday is typically considered the start of the summer driving season, when prices are traditionally higher.”
A drop in crude oil prices last week spurred speculation among analysts about whether that would lead to lower prices at the pump. While last week’s correction in crude oil prices was significant, there is still supply instability in the Middle East and North Africa region, which has driven much of the year’s gains.
Analysts say that conditions may be in place for higher crude oil levels returning in the long-term.
The average price of regular, unleaded gas in downtown Sonora is $4.19.
For information on gas prices in the area click here.
Written by tina.falco@mlode.com
