The average price of gas in California has dropped this week to $3.94 a gallon,down 75 cents from the high reached only a few weeks ago according to Gas Buddy.
In the S2S reading area there are 7 stations in Visalia below $3.80,Fresno there are around 50 stations selling regular below $3.70 and one at $3.59. In San Luis Obispo’s less competitive market only Costco is below $4 today at $3.89.
Statewide, the lowest price is $3.39 a gallon in the Bay Area.
Gas prices have fallen across the US from $3.89 average in mid September to $3.51 today.
In the past month the price of crude has plunged even as California refiner margins that had skyrocketed to $1.22 a gallon in early October have dropped to 55 cents as of October 29 according to the California Energy Commission.Meanwhile, WTI crude oil has dropped in price from $101 a barrel in mid September to around $85 a barrel today.