October 2014 - California motorists are currently experiencing yet another drop in gasoline prices statewide, according to the AAA Northern California monthly gas survey. Today’s average price in the Golden State is $3.59, representing a $0.23 decrease from a month ago.
Northern California’s average price for a gallon of regular unleaded gasoline is $3.58—that’s $0.26 less than last month’s AAA reported price on September 9. The highest recorded price ever registered in the state of California was in October 2012, at $4.67 a gallon for unleaded regular.
The least expensive average price in Northern California can be found in Marysville, where regular unleaded gasoline is $3.33 per gallon. Of all metro areas tracked by AAA in Northern California, Yreka continues to register the highest price at $3.82 per gallon of unleaded regular.
“Low demand combined with abundant supply has kept downward pressure on global oil prices.” said Cynthia Harris, AAA Northern California spokesperson. “With the increasing growth of oil production in the United States, the switch-over to a winter blend gasoline, and reduced consumption of fuel by consumers , gas prices this year have remained low and could continue to drop as we approach the holiday season. That would be welcome news for travelers.”
The national average price for regular unleaded gasoline has fallen for 19 straight days, reaching today’s price of $3.19 per gallon. This price represents a new low price for 2014. Today’s average price is $0.24 cents less than one AAA’s last monthly gas report on September 9, 2014.
The impact of falling oil prices has many in the oil market wondering whether the Organization of Petroleum Exporting Countries (OPEC) will alter production in order to push oil prices higher. OPEC members are scheduled to meet at the end of November. Additionally, while violence continues in Iraq, market watchers still assess the threat to oil production to be relatively limited.
West Texas Intermediate (WTI) crude oil settled eight cents lower at $85.74 per barrel at the close of formal trading on the NYMEX. This is fifth consecutive settlement below $90 per barrel and the lowest price since December 2012.
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 over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.
AAA Northern California offers a wide array of automotive, travel, insurance, DMV, financial services and consumer discounts to more than 4.1 million members. AAA has been a leader and advocate for the safety and security of all travelers since it was founded 114 years ago.
