LOWEST GAS PRICES IN TOWN
*As of Tuesday
$2.79/gallon @ Costco, 2955 N. Tegner Rd.; ARCO, 2219 Lander Ave.; ARCO, 1801 Lander Ave.
$2.81/gallon @ Quik Stop, 1260 Geer Rd.; Beacon, 1202 Geer Rd.; ARCO, 2015 W. Main St.; ARCO, 210 N. Golden State Blvd.
A welcome decline in state gas prices has fueled Californian’s spirits with yet another double-digit drop in prices registering at $3.21 on average for a gallon of unleaded gasoline on Tuesday — that’s $0.38 cheaper than prices reported in AAA Northern California’s latest monthly gas survey of Oct. 14. California leads the year-to-year decline nationwide with almost $0.40 drop in gas prices.
Northern California’s average price for a gallon of regular unleaded gasoline was $3.19 on Tuesday — $0.39 less than last month’s AAA reported price on Oct. 14. The highest recorded price ever registered in the state of California was in October 2012, at $4.67 a gallon for unleaded regular.
In Turlock on Tuesday, the lowest priced gasoline was $2.79 a gallon at Costco and both the Lander Avenue ARCO stations. Of all metro areas tracked by AAA in Northern California, Yreka continued to register the highest price at $3.52 per gallon of unleaded regular.
“Absent of any unanticipated market-moving events this winter, the retail price for gasoline is expected to remain relatively low,” said Cynthia Harris, AAA Northern California spokesperson. “As consumers adjust to falling oil prices, California motorists can enjoy some of the lowest prices during a holiday season since 2009.”
The national average price of gas dropped for 46 consecutive days, a cumulative decline of which is the longest consecutive decline since 2008. Tuesday’s national average for regular unleaded gasoline was $2.93 per gallon, which is the lowest price since Dec. 4, 2010.
Fueling the decline in gas prices has been the multi-month drop in crude oil costs with prices for West Texas Intermediate down to a multi-year low of $77.19 per barrel last Tuesday. Adding momentum to falling prices last week was an unexpected move by Saudi Arabia, the world’s largest oil exporter, to lower the price per barrel for crude sold to the United States. Market watchers are now focused on the upcoming meeting of the Organization of the Petroleum Exporting Countries with analysts paying close attention to how the cartel will respond to falling global prices.