Gas Prices Plummet; May Drop More

In case you haven't noticed, gasoline prices are dropping dramatically.

The California State Automobile Association reports the average price for a gallon of unleaded gasoline in California is now $3.85. That's 10 cents less than a week ago and 76 cents less than a month ago.

In the East Bay, the average price is also $3.85 a gallon. That's nine cents less than a week ago and 77 cents less than a month ago.

CSAA officials are predicting prices will continue to drop the remainder of the year.

 “Lower crude oil prices, the seasonal switch from summer to winter blend, and reduced demand have added to the recent downward pressure on retail gasoline prices,” says AAA Northern California spokesperson Cynthia Harris. “With continued signs of global economic weakness and a somewhat stronger U.S. dollar, crude oil prices have continued to move lower.”

Prices in Oakland listed on gasbuddy.com range from $3.69 in East Oakland up to $4.49 in the downtown area. Near Rockridge, most stations are selling regular gas for $3.84 to $3.89 per gallon.

Have you noticed the drop in prices? Has it helped with your monthly expenses? Let us know in the comments section.