The average cost of regular gasoline in the United States tumbled to its lowest level in almost four years-and now, cheap gasoline prices below $3 per gallon arrives at Sacramento.
Regular gasoline slid 18.2 cents in the past two weeks to $3.08 gallon, while gasoline prices today are 28.69 cents cheaper compared to last year, a Lundberg Survey Inc. revealed based on data collected from 2,500 filling stations across the country by the Camarillo company.
This is the biggest drop in gasoline prices since Dec. 17, 2010, and will continue to drop because the price of oil, which contributes 64 percent to the price of gasoline, also went down 24 percent from its highest level in June.
Sacramento reported gasoline price reaching even below the $3 benchmark-$2.99-the first time in four years that the state experienced lowest gasoline prices.
Two Costco and one Sam's Club gas stations were even selling the state's lowest price of $2.85 per gallon, according to www.sactogasprices.com.
Other gas stations like Elk Grove Florin Road and Safeway sells $2.87 per gallon while Fastrip stations and Arco stations in Citrus Heights, Woodland and Sacramento sells regular gas ranging from $2.87 to $2.89.
The highest price for gasoline in was in San Francisco, at $3.47 a gallon, Lundberg said, while the lowest price was in Memphis, Tenn., where customers paid an average $2.73 a gallon.
"Oh, yes, people are happy with the gas price, and they like getting change back," said Rita Singh, a clerk at Andy's Arco on Main Street in Woodland stated, same place where a gallon of regular went for $2.87 on Sunday.
"People like cheap gas. And we're selling a lot more other stuff, like soft drinks, coffee, candy and doughnuts," Singh added.
The cheaper gas prices were because of crude oil prices going down in international markets. The price of a barrel of oil from OPEC was around $103.10 on Aug. 10-Now, a barrel costs only $81.12.
