Cheap gas Sacramento

Lower gas prices about to drop even more in Sacramento
April 24, 2017 – 10:05 am

Drivers jockeyed for a position at gas pumps at an Arco station in Sacramento's Arden area Friday, squeezing their vehicles into the first available spot to take advantage of dramatically low prices.

Regular gasoline cost $2.67 per gallon here - and most people did not remember the last time they saw a price with a "2" in front of it.

"Prices make a big difference, " said Jim Liclican, who was filling a pickup truck and was surprised to spend just $34 to do it.

But, there's even better news. Prices will likely drop more and the decreases will probably last through the end of the year, according to petroleum analysts. So, consumers shouldn't have to feel that they need to rush to take advantage of a lower price.

"There's only a few weeks left of the peak summer driving season, " said Gregg Laskoski, a senior petroleum analyst at GasBuddy.com, a website that tracks prices around the country. "Once we get into mid-September, that's when we expect you'll see the price decreases accelerate even further. That's when refineries can be putting into the market the cheaper gasoline, the winter blend gasoline."

The biggest reason behind dropping prices over the past several weeks is the decreasing price of crude oil, Laskoski said. Experts say that is due in large part to a glut of oil on the market, being produced by several countries including the U.S.

The average price for regular gasoline Friday was $3.38 per gallon. Compare that to the price at the same time last year - it was nearly 50 cents more.

But, many consumers who have been skeptical of explanations for various price spikes over the past two years believe this decrease is overdue.

"I think it's about time because there's been no major problem in the California refineries, " said Mark Henig, who was buying gas Friday. "And there's no excuse for having been as high as they were as long as they were."

Henig was referencing multiple instances when price increases were blamed on refineries that were reported to be down for maintenance or even damaged.

Most drivers, busy heading somewhere Friday afternoon, weren't questioning the reason for the price drop. They were thinking ahead to what it might mean to see even lower prices in the next few months.

Source: www.kcra.com
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