Monday, 30 September 2024

Gas prices continue to descend in April

EMERYVILLE, Calif. – As temperatures rise, gas prices are expected to continue their descent due to the resolution of refinery issues and relatively low crude oil prices.

This week's state prices are registering at $3.10 on average for a gallon of unleaded gasoline – that’s $0.33 less than prices since AAA Northern California’s latest monthly gas survey of March 10.

Northern California’s average price for a gallon of regular unleaded gasoline is $3.05 – that’s $0.32 less than last month’s AAA reported price on March 10.

The least expensive average price in Northern California can be found in Marysville, where regular unleaded gasoline is $2.80 per gallon.

Of all metro areas tracked by AAA in Northern California, Eureka registers the highest price at $3.28 per gallon of unleaded regular.

“Despite falling for the majority of the previous month, retail averages maintain the potential to inch upward short-term as we approach the summer driving season,” said Cynthia Harris, AAA Northern California spokesperson. “The price at the pump remains heavily influenced by the global price of crude and the ability of domestic refineries to manage scheduled and unscheduled maintenance.”

Any global or national market moving developments will cause the price at the pump to fluctuate; however, it is estimated that even with seasonal prices, consumers are expected to see prices move lower leading up to the peak driving season this summer. California ($3.10) and Hawaii ($3.09) are nation’s most expensive markets for retail gasoline.

The national average price for regular unleaded gasoline has continued to point lower, due to the resolution of regional refinery issues and a global price of crude oil that remains relatively low.

This week's average price of $2.39 per gallon is fractions of a penny higher than one week ago.

The global oil market remains bearish, despite the price of crude showing volatility reminiscent of the financial crisis in 2008 and 2009.

Global supply continues to outpace demand, and news of sustained production from OPEC along with high-cost production countries like the U.S. is expected to keep downward pressure on global crude prices. The U.S. oil production and supplies continue to outpace demand.

To get the best mileage possible, AAA recommends keeping tires at the recommended pressure suggested by the vehicle manufacturer, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair.

The way you drive can also impact fuel economy. Smooth driving to avoid sudden stops and starts, combining trips and lightening a vehicle’s load also help to conserve gasoline.

AAA Fuel Gauge Report is the most comprehensive retail gasoline survey available, with more than 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.

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