California gasoline prices drop – slightly

LOS ANGELES
July 14, 2017 4:05am
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•  But a few Central Valley cities see noticeable drops in prices

•  “Supplies have apparently remained steady”

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After a brief pause, California’s retail gasoline price averages are dropping again, but ever so slightly, according to price surveys Friday.

“The underlying prices that gas stations pay for fuel have dropped in the last week as supplies have apparently remained steady,” says Jeffrey Spring, a spokesman for the Automobile Club of Southern California.

California’s statewide average price on Friday, July 14, is $2.917, down 1.4 cents from one week ago, according to AAA’s tabulations. The national average price is $2.255, down four-tenths of a cent since last Friday, according to the AAA.

Today’s Regional Prices

Following are the Central Valley average prices for Friday, July 14, driving from south to north, as reported by the American Automobile Association, with last week’s (July 7) averages in parentheses and [June 30] prices in brackets:

• Bakersfield, $2.949 ($2.963) [$2.967]

• Visalia-Porterville, $2.971 ($2.963) [$2.998]

• Fresno, $2.964 ($2.971) [$2.988]

• Merced, $2.920 ($2.939) [$2.965]

• Modesto, $2.752 ($2.768) [$2.794]

• Stockton-Lodi, $2.810 ($2.829) [$2.842]

• Sacramento, $2.835 ($2.853) [$2.885]

• Yolo, $2.764 ($2.791) [$2.812]

• Yuba City, $2.736 ($2.766) [$2.784]

• Chico, $2.736 ($2.775) [$2.822]

The market average price for self-serve regular gasoline in the Los Angeles-Long Beach area on July 14 is $2.912, which is 1.7 cents less than the average price last Friday. In San Diego, the average price is $2.886, down all of 1.5 cents over the past seven days, the AAA says.

California’s highest average price is again this week in San Luis Obispo at $3.118, but that’s a decrease of 1.7 cents compared to last week’s average, the AAA says.

Per usual, Yuba City has the state’s lowest market average price. But this week it shares the honor with Chico, where prices are also averaging $2.736 per gallon. Prices are dropping slightly faster in Chico – down 3.9 cents in a week, compared to Yuba City’s drop of three cents.

California’s lowest price spotted on July 14 is $2.159, a cash-only price found at rival convenience stores in Farmersville by volunteer price spotters for the price comparison website GasBuddy.com. If those outliers are not included, then the next lowest price is $2.379, found at a convenience store’s pumps in Lamont. That would be two cents less than last week’s California lowest price and it, like the Farmersville stores, is cash only.

What could be the lowest price in the country for a gallon of gas on July 14 is $1.739, found by a GasBuddy spotter at a gas station in Moore, Oklahoma. That is, however, four cents higher than last week’s apparent lowest, which was spotted by GasBuddy in Giddings, Texas.

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 Wex Inc., formerly known as 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.


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