California gas prices dropped this week as the average gallon of gasoline in Contra Costa County stands at $5.52 per gallon Friday, down a 7-cents from last week.
According to AAA, the current average cost of a gallon of gasoline in California stands at $5.40 per gallon. Down 5 cents from a week ago. Gas was $4.99 and a month ago and gas was $4.88 a year ago.
The national average is $3.69 per gallon.
California average gas prices
| Regular | Mid-Grade | Premium | Diesel | |
|---|---|---|---|---|
| Current Avg. | $5.406 | $5.623 | $5.788 | $5.424 |
| Yesterday Avg. | $5.409 | $5.625 | $5.789 | $5.428 |
| Week Ago Avg. | $5.450 | $5.667 | $5.829 | $5.449 |
| Month Ago Avg. | $4.999 | $5.210 | $5.373 | $5.392 |
| Year Ago Avg. | $4.889 | $5.099 | $5.245 | $5.282 |
According to AAA
“Domestic gas demand is pretty pokey at the moment, which is often the case in the runup to Memorial Day and the traditional start of summer driving season,” said Andrew Gross, AAA spokesperson. “The recent national average price of $3.67 could be the peak until hurricane season is well underway. But as always, the wildcard will be the cost of oil, so stay tuned.”
According to new data from the Energy Information Administration (EIA), gas demand fell from 8.66 to 8.42 million b/d last week. Meanwhile, total domestic gasoline stocks decreased by .6 million bbl to 226.7 million bbl. Lower demand and a drop in oil prices could push pump prices lower.
Quick Stats
The nation’s top 10 least expensive markets: Mississippi ($3.09), Colorado ($3.13), Louisiana ($3.15), Oklahoma ($3.16), Arkansas ($3.21), New Mexico ($3.23), Kansas ($3.23), Alabama ($3.25), Texas ($3.25), and Tennessee ($3.27).
The nation’s top 10 most expensive markets: California ($5.40), Hawaii ($4.80), Washington ($4.65), Nevada ($4.59), Oregon ($4.43), Alaska ($4.37), Arizona ($4.09), Utah ($3.97), Idaho ($3.93), and Illinois ($3.91).
National average gas prices
| Regular | Mid-Grade | Premium | Diesel | E85 | |
|---|---|---|---|---|---|
| Current Avg. | $3.660 | $4.114 | $4.453 | $4.018 | $2.953 |
| Yesterday Avg. | $3.658 | $4.112 | $4.451 | $4.024 | $2.948 |
| Week Ago Avg. | $3.679 | $4.129 | $4.467 | $4.052 | $2.982 |
| Month Ago Avg. | $3.533 | $3.966 | $4.308 | $4.050 | $2.908 |
| Year Ago Avg. | $3.646 | $4.068 | $4.392 | $4.164 | $2.904 |
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI decreased by 55 cents to settle at $82.81. Oil prices dipped despite the EIA reporting crude oil inventories fell by 6.4 million barrels from the previous week. At 454 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year.
Previous Stories:
April 19 – Contra Costa County Gas Prices Down a Penny
2 comments
Big F’n deal. These oil companies and our politicians are ripping us off. Sky high profits in all their pockets at our expense.
Seven whole cents?! Woo! It’s like Buy-Den and New-Scum are really doing something for us! I’d rather have cheap gas and mean tweets.