-March 30,2023-
Yokut Gas was again the low price leader in Kings County this week with regular priced at $3.89 gallon at press time, one of the lowest prices in the state. Two other local stations are below $4 according to Gas Buddy. Recently the wholesale price of gas in California has plunged as much as 40 cents from the first of March but pump prices are slow to follow even though sellers are paying less. Crude oil that was $110 per barrel a year ago is selling around $70.
Gasoline demand in 2023 appears to be lower than this same time last year.It’s not just that people are buying electric cars. Analysts point to changing work habits and how many days people go into their job or work from home.Workers who used to commute five days a week now drive fewer days. Also, year after year the fleet of cars operating get more fuel efficient. Add to that the run up in prices last summer when gas reached $6 a gallon that probably forced a change in driving habits by the consumer. Analysts expect US gasoline demand to drop by 1% annually over
the next few years
Yokut Gas is doubling its size by this summer