California gas prices slowly trickling down
AAA Monthly Gas Price Averages: March 12, 2013
City/Region Price Change
NATIONAL 3.70 + .10
N. CALIFORNIA 4.11 + .16
BAY AREA 4.23 + .20
SACRAMENTO 4.04 + .15
Despite the average cost for a gallon of regular gasoline rising 11 cents since last month to $4.17 a gallon, price increases are slowing in some areas around
Fuel prices this week are 19 cents higher than the state’s average price at this time last year, according to a release issued by AAA Northern California. In the
“The recent, rising gas price bubble has burst, as prices are starting to trickle down following a series of jumps at the pump that lasted for weeks,” Robert Brown, AAA Northern California Public Affairs Director said in a statement. “This drop in prices is helped by a now completed switchover to summer-blend gasoline and the completion of refinery maintenance, which helped to push up prices.”
For
The least expensive average price in Northern California is in
AAA says the recent spike in pump prices was a product of refinery maintenance and concerns, rather than more expensive crude oil. These refinery issues pressured both wholesale and futures prices higher for gasoline, while crude oil prices only increased slightly during the same period. The recent decline in the national average is partially due to cheaper crude oil but is more closely linked to sharply lower wholesale gasoline prices.