U.S. fuel prices, according to a new gas report, have taken one of their biggest dips since August.
The national average for a gallon of regular-grade gasoline dropped to $3.49, 26 cents less than a month ago and only 10 cents more than where prices sat a year ago. Oil prices have crept lower, said AAA in a November release, on fears of economic slowdowns around the world.
In response, gas demand dropped while gas stocks rose — creating lower prices at the pump.
The largest decreases are happening on the West Coast, including California.
“But the West,” said spokesman Andrew Gross with the AAA in a November release “has the farthest to fall because its prices are so elevated.”
Noted as the nation’s most expensive gasoline market, California’s average price for a gallon of regular unleaded fuel is $4.94 per gallon — 62 cents less than one month ago and 23 cents away from last year’s average.
Sacramento is following a similar trend.
As of Wednesday, the average regular gas price in Sacramento is $4.74 per gallon, which is 67 cents lower from where it sat one month ago and less than 1 cent from last year’s average. Just five months ago Sacramento motorists were paying an all-time high of $6.44 per gallon of regular unleaded gasoline.
Several other California cities like Fresno, Modesto, Stockton, Oakland and San Francisco are also seeing lower pump costs.
San Francisco’s current average price for a gallon of regular gasoline is $5.05 per gallon, which is $1.58 less than its highest recorded average. Fresno’s average price is $4.78 per gallon, which is $1.57 cents below its highest average price.
While California metro areas like Modesto ($4.75 per gallon), Stockton ($4.72 per gallon) and Oakland ($4.95 per gallon) all sit below their highest recording average by more than $1.
If prices follow AAA predictions, motorists can look forward to continued relief at the pump.
The data used in this interactive map, collected from AAA, was updated Wednesday. Here are the regular gas prices per gallon in California by county, which differ from the metro areas listed below. See where you land:
Current gas price average: $4.78 per gallon
Last month’s average: $5.43 per gallon
Current gas price average: $4.75 per gallon
Last month’s average: $5.40 per gallon
Current gas price average: $4.72 per gallon
Last month’s average: $5.38 per gallon
Current gas price average: $4.95 per gallon
Last month’s average: $5.62 per gallon
Current gas price average: $5.05 per gallon
Last month’s average: $5.77 per gallon
How gas fares across the country
While California saw major dips in its pump prices, Alaska has the sunshine state beat.
Here are the U.S.’s top 10 largest weekly decreases, according to AAA:
Alaska - 30-cent drop
California - 21-cent drop
Indiana - 20-cent drop
Wisconsin - 20-cent drop
North Dakota - 20-cent drop
Nevada - 17-cent drop
Oregon - 17-cent drop
Illinois - 17-cent drop
Michigan - 17-cent drop
Oklahoma - 16-cent drop
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