California gas prices dropped this week while the average gallon of gasoline in Contra Costa County stands at $5.40 per gallon Friday, down 12 cents from last week.
According to AAA, the current average cost of a gallon of gasoline in California stands at $5.30 per gallon. Down 6 cents from a week ago. Gas was $5.38 and a month ago and gas was $4.81 a year ago.
The national average is $3.63 per gallon.
California average gas prices
| Regular | Mid-Grade | Premium | Diesel | |
|---|---|---|---|---|
| Current Avg. | $5.305 | $5.526 | $5.692 | $5.352 |
| Yesterday Avg. | $5.317 | $5.535 | $5.703 | $5.359 |
| Week Ago Avg. | $5.367 | $5.586 | $5.748 | $5.394 |
| Month Ago Avg. | $5.385 | $5.584 | $5.749 | $5.442 |
| Year Ago Avg. | $4.814 | $5.024 | $5.172 | $5.189 |
According to AAA:
Gas prices posted a quiet week, with the national average drifting lower by three cents to $3.64 since last Thursday. Tepid pre-Memorial Day domestic demand and oil costs below $80 a barrel are the likely culprits.
“The current news cycle is jam-packed, so not having gas prices in the mix should be a welcome relief,” said Andrew Gross, AAA spokesperson. “Most consumers will probably see pump prices barely budging for now. That’s important because, on May 13, AAA will release the Memorial Day travel forecast, which could be a robust weekend for car trips. Stay tuned!”
According to new data from the Energy Information Administration (EIA), gas demand rose modestly from 8.62 million b/d to 8.79 last week. Meanwhile, total domestic gasoline stocks increased by nearly 1 million bbl to 228 million bbl. Slack demand, rising supply, and falling oil prices could push pump prices lower.
Quick Stats
Since last Thursday, these 10 states have seen the largest weekly changes in their averages: Indiana (+13 cents), Florida (-12 cents), Ohio (+9 cents), Delaware (-8 cents), New Mexico (-7 cents), Maryland (-7 cents), Utah (-7 cents), Tennessee (-6 cents), Nevada (-6 cents) and Texas (-6 cents).
The nation’s top 10 most expensive markets are California ($5.31), Hawaii ($4.81), Washington ($4.65), Nevada ($4.49), Oregon ($4.44), Alaska ($4.39), Arizona ($3.99), Illinois ($3.93), Idaho ($3.86), and Utah ($3.83).
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI increased by 61 cents to settle at $78.99 a barrel. Prices rose as the EIA reported that crude oil inventories had decreased by 1.4 million barrels from the previous week. At 459.5 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
National average gas prices
| Regular | Mid-Grade | Premium | Diesel | E85 | |
|---|---|---|---|---|---|
| Current Avg. | $3.636 | $4.093 | $4.432 | $3.954 | $2.950 |
| Yesterday Avg. | $3.642 | $4.096 | $4.437 | $3.961 | $2.951 |
| Week Ago Avg. | $3.667 | $4.122 | $4.462 | $3.997 | $2.955 |
| Month Ago Avg. | $3.619 | $4.071 | $4.406 | $4.058 | $2.945 |
| Year Ago Avg. | $3.531 | $3.958 | $4.285 | $4.046 | $2.928 |
Previous:
- April 26 – Contra Costa County Gas Prices Drop 7 Cents
- April 19 – Contra Costa County Gas Prices Down a Penny
2 comments
Costco 4.85 Antioch
Bidenomics working just like he and Gavin planned. Biden drove up inflation and Gavin taxed the crap out of fuel. Costco gas was $2.86 per gal. when Trump left office. We haven’t even gotten into the summer driving.
Comments are closed.