California gasoline prices are finally on a downward slide this week well after the traditional Labor Day decline in high summer prices. Across the US, AAA has reported gasoline prices “were the highest ever for September”.
This week, oil prices fell from near $99 to around $93 a barrel while California average retail gasoline prices were falling to around $4.10 a gallon from around $4.15 to $4.25 a week ago according to Gas Buddy.
The California Energy Commission shows gas prices down 2 cents from Sept 10 to Sept 17 at an average of $4.15
Around the S2S reading area, Visalia’s Costco is selling regular for $3.99 and several stations in Tulare are at $3.95 today.
In Fresno, Gas Buddy reports prices as low as $3.87 today and in Bako as low as $3.89. In San Luis Obispo, the lowest price remains $4.09.
The lowest prices in the state are in the Sacramento area falling to as low as $3.83
On Sept 13, AAA reported that following eight straight weeks of increases, gasoline prices in various Southern California regions dipped only slightly. The state average for that date was $4.169 a gallon for regular – 1.6 cents higher than last week.
“Prices throughout the region dropped very slightly during the past week for the first time since July,” said Auto Club spokesperson Jeffrey Spring.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.170 per gallon, which is seven tenths of a penny less than last week, 7.5 cents higher than last month, and 21 cents higher than last year. In San Diego, the price is $4.151, six tenths of a cent below last week, 7.2 above last month, and 18 cents higher than last year. On the Central Coast, the average price is $4.223, down four tenths of a cent from last week, 11 cents higher than a month ago, and 24 cents above last year. In the Inland Empire, the average per gallon price is $4.137, down a penny from last week, 7 cents higher than last month, and 20 cents more than last year.
That slow trend should improve this week.
Keeping A Lid On Oil
With lower oil prices this week CNBC reported that “the White House promise that it could release oil from strategic reserves if prices get too high is keeping a lid on crude prices, already under pressure from slower global growth.
In what appears to be a calculated move to keep oil prices under control, the White House Tuesday reiterated its comment that “all options are on the table” when it comes to the oil market, including a Strategic Petroleum Reserve release.”
Today Reuters reported that “Brent crude oil futures slid to a six-week low on Wednesday, as the market digested comments from the world’s largest oil exporter Saudi Arabia that it would take action to keep prices in check, raising expectations of increased supply.”