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Government Report: Gasoline Prices Have Further To Fall

September 14,2015-

Screen Shot 2015-06-04 at 11.03.53 AMRising crude oil prices, strong gasoline demand, and several refinery outages on the West Coast contributed to an increase in U.S. regular gasoline retail prices from a monthly average of $2.47/gal in April to $ 2.80 /gal in June says the federal Energy  Information Administration (EIA).
Falling crude oil prices and narrowing wholesale gasoline margins have since contributed to prices declining in August to an average of $2.64/gal.

EIA expects monthly average prices to decline in the coming months as refineries continue to produce high levels of gasoline, as demand begins to decrease following the peak in the summer driving season, and as the market transitions to lower-cost winter-grade gasoline. EIA projects regular gasoline retail prices to average $2.11/gal in the fourth quarter of 2015 and $2.03 by December.

Translating those national costs to California- a California Energy Commission spokesperson estimates that we could see the average California gas price to hit an $2.53 by December compared to around $3.16 today .

California gasoline prices have declined by 75 cents since their high  in late June. Now the prediction is they will fall another 70 cents or so in time for the holidays
Helping to reduce costs is a boost in refining at the big Exxon Mobli plant in Torrence by early October.

In the reading area the cheapest gas is at Costco in Visalia at $2.77 today and on the Coast at the Costco in San Luis Obispo it cost $2.85.

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