Breitling Oil and Gas California Morning Podcast #12

Average gasoline prices have slipped below $4 a gallon for the first time since early February.

Good news: more less-costly driving may be ahead.

Why is this happening? Simple: Refineries are benefiting from lower crude oil prices. They are slashing their wholesale prices to their marketers who are in the midst of cutting their prices to retailers and who are beginning to slash to California drivers.

My data shows statewide average is $3.96 a gallon as of today.The average price has dropped 28.5 cents over the past 40 days

The average price is 4.9 cents less than one week ago, 20.7 cents lower than one month ago and 23.7 cents below what it was one year ago.

Comments are closed.