California Gas Prices Expected to Drop Below $4
Gas prices have reached epic proportions here in California, with a gallon of a gas in most areas priced at well over $4. However, some experts say that California’s are in for some relief at the pump ahead of Memorial Day weekend.
Gas prices soared these past few months, as Americans saw the largest seasonal rise in gasoline in eight years, according to GasBuddy. Currently, the national average for gas is around $2.86, but there are already some early signs that this figure is beginning to decline.
Here on the West coast, the exorbitant gas prices have been caused by a fall in gasoline stocks, resulting in a lower inventory of gasoline. This puts immense pressure on prices, along with the fact that refineries are entering into a period were scheduled maintenance leaves some temporarily out of commission.
A gallon on unleaded dropped about five cents in Los Angeles and Orange County, though the price remains above $4. The average price in San Diego county dropped to $4.068, putting it just on the cusp of reaching sub-$4 gasoline. Significant price reductions have been seen at Arco, Costco, and Sam’s Club gas stations, all of which are typically the lowest-priced stations in the county.
Still, California still remains as the state with the nations highest gas prices. GasBuddy predicts that the price of gas will continue to drop below $4, and hopefully will remain there for the rest of summer. This will be much appreciated as the highly-travelled Memorial Day weekend is right around the corner.
California drivers will have to contend with another issue when it comes to spending their hard-earned dollars at the pump: an increased state gas tax rising by 5.6 cents. This will make California the second-highest in gas taxes in the country.