Gasoline prices lower in time for holiday weekend

LOS ANGELES
May 27, 2011 4:55am
Comment Print Email

•  Still more than a dollar a gallon higher than a year ago

•  ‘The chief regulator on oil speculation, in my view, is breaking the law’


Gasoline prices across California have dropped by about a dime over the past week, providing welcome relief to travelers fueling up before the Memorial Day holiday, according to price surveys Friday.

“The Auto Club is expecting that 84 percent of Southern California travelers, or 2.2 million people, will drive to their holiday destinations this weekend, so the gas price drops are coming at a good time,” says Jeffrey Spring, a spokesman for the Automobile Club of Southern California.

Despite the trickle-down in pump prices, averages are still running about $1 per gallon higher than a year ago.

Several U.S. Senators on Thursday called for the Commodities Futures Trading Commission to finally get around the obeying the law and impose strong speculation limits on oil and gas trading – something the Dodd-Frank Act supposedly required to be done by Jan. 17.

"I want to know why they haven't done it," says Sen. Bernie Sanders, I-Vt., a member of the Senate Energy and Natural Resources Committee.

"In other words, the chief regulator on oil speculation, in my view, is breaking the law,” Mr. Sanders says.

He says there is mounting evidence that the rapid increase in gasoline prices has had nothing to do with the fundamentals of supply and demand, but everything to do with Wall Street firms that are artificially driving up the price of oil in the energy futures markets.

Following are the Central Valley average prices for Friday, May 27, driving from south to north, as reported by the American Automobile Association with last week’s (May 20) averages in parentheses and [May 13] prices in brackets:

• Bakersfield, $4.098 ($4.192) [$4.273]

• Visalia-Porterville, $4.075 ($4.156) [$4.251]

• Fresno, $4.017 ($4.111) [$4.220]

• Merced, $4.043 ($4.145) [$4.218]

• Modesto, $3.973 ($4.065) [$4.177]

• Stockton-Lodi, $4.002 ($4.109) [$4.203]

• Sacramento, $4.013 ($4.121) [$4.207]

• Yolo, $4.015 ($4.103) [$4.190]

• Yuba City, $3.953 ($4.029) [$4.106]

• Chico, $3.981 ($4.076) [$4.176]

The market average price of self-serve regular gasoline in the Los Angeles-Long Beach area on May 27 is $4.083, which is nine cents less than a week ago, the AAA says. In San Diego, it is $4.041, which is 9.4 cents less than a week ago, according to the AAA’s figures.

On this Memorial Day weekend, San Francisco has California’s highest market average price for gasoline (again) -- $4.175. But that is 7.5 cents less than last week’s average price, according to the AAA’s figures.

Yuba City continues to have California’s lowest market average price – $3.953 on May 27, according to the AAA’s figures. That is 7.6 cents under last week’s average.

What might be the lowest reported price in California on May 27 is the $3.65 per gallon being charged at a gas station in Downey, according to the website GasBuddy.com.

Continuing to post what might be the state’s highest price for a gallon of petrol is a Mobil station in West Covina. On May 27 it is $4.91, says GasBuddy, the same price it demanded a week ago.

The nation’s lowest gas prices have seen a shift from the interior West – Utah and Wyoming -- to the Southeast over the past several weeks. May 27 is no exception, with what might be the nation’s lowest price being charged at a gas station in Greenville, S.C. -- $2.99 per gallon, according to GasBuddy.

Methodologies

GasBuddy bases its figures on reports from volunteer “price spotters” reporting specific locations in the U.S. and Canada. They are not independently confirmed.

The AAA’s prices are market averages for self-serve regular grade (87 octane) gasoline. They are calculated daily from credit card purchases and compiled by the Oil Price Information Service and Wright Express.

Not every station is surveyed and not every market is included in either report. Both price surveys note that there can be wide variations within any market.

Gasoline prices throughout California are higher than the national average and usually among the highest in the nation. That is due in part to taxes and a state law mandating a special blend of fuel to reduce polluting emissions.


Comment Print Email












  • How to compete against Wal-Mart
  • Stockton mom turns a need into a business
  • The entrepreneur is in
  • Writing her own success story
  • Growing a small business the family way
  • The future pencils positive for this company
  • Niche marketing -- Italian style
  • Sipping success with niche marketing
  • Roasting a business out of his passion
  • Success as an independent consultant takes more than expertise
  • Avoiding the traps of employee law violations
  • Cracking the voice-over market
  • The American Dream realized, one package at a time
  • Female winemaker plunges into business
  • A new take on nurse education
  • Family sees moving business success
  • STEM thrives in pockets of education innovation
  • STEM goes solar in Stockton
  • Quick! There’s a robot in my pool
  • Retiring seniors can mean new business
  • Predawn biotech class trains next generation of science workers
  • Staying ahead of the competition the old fashioned way
  • Central Valley sees mismatch between high-tech jobs and job seekers
  • STEM starts young
  • Get ready – the future is here now
  • STEM Education: Growing the Valley's Future
  • They’re low power in wattage only, not ideas
  • Thinking success spawns Successful Thinkers
  • Small business success can mean finding the right niche
  • This franchise has real muscle behind it
  • Getting the scoop on small business success
  • Reshoring could rebuild America's manufacturing
  • Marketing that’s deliberately anchored to the past
  • Guitar artist plays his way to success
  • Paralysis no handicap for this entrepreneur
  • Boost sales with better communication
  • Making sandwiches sexy with a franchise
  • Going solar without spending a lot of money
  • They’re cute and cuddly. But are they a business?
  • Opportunity sails forth in the Delta
  • How bad etiquette on the job could kill your career
  • Growing their way out of hunger and poverty
  • Finding small business success from floor to ceiling
  • Why he’s public enemy #1 – for gophers
  • Running a home-based business successfully
  • Your boss needs a vacation – really
  • Couple makes transition from big corporations to small business
  • Carving a small business niche with a better idea
  • Calm is the goal of computer service and education franchisor
  • Developer squeezing new life into downtown with juice franchise
  • Signs of a recovering economy
  • How to keep a family business in the family
  • Ford dealership expands despite the Great Recession
  • Utility Telephone connects with customer service
  • Crowdfunding basics
  • The roar from crowdfunding is getting louder
  • California water wars’ bulldog
  • Water wars heat up in California
  • Helping businesses grow with a stronger STEM
  • How to retain your best employees
  • Small business runs success up the pole
  • Winery expands in Lodi
  • Lodi wineries tapping into growing Chinese market
  • Has the jobs picture brightened for the Valley for 2012?
  • The right education will be needed for 21st Century jobs
  • Where new jobs for San Joaquin will come from
  • Developing jobs for San Joaquin – Part 2
  • Developing jobs for San Joaquin
  • Fruits of his labor
  • Helping grow food security in the Valley of plenty
  • Doing a business turnaround despite the recession
  • Keeping customers loyal helps build her business
  • Expo exposes businesses to utility contracting ideas
  • Drink mix maker taps expertise to blend success
  • Entrepreneur finds success in a basket
  • Tips for catching resume fraud
  • There’s no checking out for this small business owner
  • Entrepreneurs take Valley sports play-by-play to the world
  • Starting a winery from scratch
  • Job hunting tips for the long-term unemployed
  • In the Central Valley, opera isn’t always the Grand Ole Opry
  • Branding ideas for small businesses
  • The ump’s not blind, but the players are
  • Finding success by tapping your brain in a new way - Part Two
  • Finding success by tapping your brain in a new way
  • Machines talking to machines is the future
  • Getting involved in the fight against AIDS
  • Franchised divorce says it’s a better way
  • Small business owner is brewing a success story
  • To beat the Great Recession, they’ve expanded
  • Taking a swing at strokes
  • Alert your taste buds – here comes Taste of San Joaquin
  • This franchise has real muscle behind it
  • Passion for his city drives him
  • Vicente Fox speaks out on U.S.-Mexico relations
  • Give your support staff recognition and reap top performance
  • Central Valley baker gets top honors for Royal Wedding pie
  • Asparagus Festival ends on high note
  • Stockton close to annual ‘tipping’ point
  • Framing small business success
  • Small business sees Affordable Care Act helping its bottom line
  • What you eat – and when – helps local restaurants
  • Coping with the aftermath of foreclosure
  • How to raise charming children
  • Central Valley grad school goes all-iPads
  • Solution to Delta water wars voiced
  • Making sure your personal bottom line is covered
  • Small California winemaker is all family
  • Small winery relies on family and innovation to compete
  • Central Valley company says it has a better way to store solar power
  • What’s wrong -- and right -- about local TV news
  • What planning means to small business success
  • Making the leap to small business
  • Out of work at middle age? Experts offer advice
  • Small business marketing, one article at a time
  • Congress on your corner as it’s supposed to be
  • Central Valley city’s heritage rediscovered
  • Central Valley school is building students’ foundations
  • Job tips from the expert
  • Long-term jobless worker re-invents himself
  • Building a new power plant means jobs for Central Valley
  • Sacramento reaches for the stars with new science center
  • Lodi Chamber opens China’s doors to small business
  • Writing books for fun – and sometimes profit
  • Black Friday shopping? How to protect yourself from scams
  • California winemakers can find added rewards overseas
  • Wine makers tap overseas markets from Lodi
  • A new revenue stream for Central Valley small businesses
  • Food bank seeks more business support
  • Tips for finding a job in the Great Recession
  • State may solve some of its prison woes with new Stockton facility
  • A solution to underwater mortgages
  • Should public libraries be managed by private firms?
  • Central Valley moves ahead with critical water project
  • Dee Dee Myers and the increasing impact of women on small business
  • How women are growing their small businesses
  • A market with a mission
  • Retailer 'paints' solutions to cash flow challenge
  • An answer for the unemployed – return to school
  • A ‘golden’ small business success story
  • Central Valley winegrapes blessed
  • Rubbing out the recession with a franchise
  • Surviving the recession as a small business
  • It’s personal, union says of Stockton fire cuts
  • How old it too old to start a new business?
  • They've found the recipe for small business success
  • MBA students help revive Central Valley farmers market
  • Classic wooden yachts anchor in Stockton for weekend
  • Foreclosures, short sales – a bank president comments
  • The strength of family helps this small business compete
  • Festival spears success in Central Valley
  • Social media helps keep family business prospering
  • Central Valley students get training in ‘green’ futures
  • Knives readied as Valley cities slash services
  • Central Valley jobless picture still grim
  • Delta residents told to ready for water war
  • Opportunities outlined for Central Valley small businesses
  • Rewiring your brain for success
  • Central Valley no longer ‘shell shocked’ by recession
  • To fix California’s government, look to London
  • Taking your sales pitch to the next level