AAA Reports Modest 6 Cent per Gallon Decrease in Last Month
SAN FRANCISCO, December 11, 2007 – Gas prices are going down, but there’s still a lot of room left for improvement.
According to a new report from AAA of Northern California, which tracks fuel costs as a service to consumers, the statewide average cost for a gallon of regular unleaded gas is now $3.33. Today’s price is a decrease of 6 cents per gallon since the last AAA gas price report on November 13, but still 83 cents higher than a year ago.
Some of the decline in gas prices is a result of falling cost for crude oil, the raw material from which gasoline is made. After peaking in November at nearly $99 per barrel, oil prices have dropped by more than 10 percent.
Economic forces like the value of the U.S. dollar and the health of financial markets continue to exert pressure on the price of oil and gas. Since oil prices are set in dollars, nations and corporations that sell the commodity are increasingly concerned about losing money when the dollars they earn from oil sales are converted to other currencies. Economic concerns in the U.S. may be a factor in decreasing demand for gasoline.
“There’s been so much volatility in the energy markets that it may be some time before the dust settles and we have clearer picture of where prices are headed.” said Sean Comey, spokesperson for AAA of Northern California. “What happens to crude oil prices and the value of the U.S. dollar over the next few weeks will give us some clue about whether the current trend of modest gas price decreases will continue.”
The most expensive average gas price in the California communities where AAA monitors fuel costs is in San Francisco, where regular unleaded sells for $3.55 per gallon. The lowest price among Northern California cities tracked by AAA is in Redding and Tracy, where gas costs an average of $3.23 per gallon. Throughout Northern California, the average price is $3.36, a decrease of 6 cents per gallon since the last AAA gas price report. In the Bay Area, the average price is $3.51, down 2 cents from last month. The statewide average record high price of $3.49 was set on May 9.
The national average price for gas is now $3, down 11 cents from last month’s survey. The national average price is 33 cents a gallon less than the California statewide average price. The least expensive gasoline in the country is found in Springfield, Mo., where regular unleaded costs an average of $2.68. The highest average price in the nation is in Wailuku, Hawaii, on the island of Maui, where a gallon of regular unleaded costs $3.77.
One way consumers can reduce the amount of money they spend on fuel is to shop aggressively for the lowest price. AAA of Northern California has a tool that can help. Located online at www.aaa.com/gasprices, the AAA Fuel Finder has real time information on gas prices at gas stations throughout the United States.
AAA Monthly Gas Price Averages: December 11, 2007
| City/State/Region |
Price |
Monthly Change |
City/State/Region |
Price |
Monthly Change |
| NATIONAL |
3.00 |
- 11 cents |
SAN MATEO |
3.51 |
- 3 cents |
| CALIFORNIA |
3.33 |
- 6 cents |
SAN RAFAEL |
3.36 |
- 1 cent |
| N. CALIFORNIA |
3.36 |
- 6 cents |
SANTA CRUZ |
3.44 |
+ 1 cent |
| BAY AREA |
3.51 |
- 2 cents |
SANTA ROSA |
3.34 |
- 3 cents |
| CHICO |
3.25 |
- 5 cents |
STOCKTON |
3.30 |
- 11 cents |
| CONCORD |
3.37 |
- 1 cent |
TAHOE CITY |
3.50 |
- 10 cents |
| EUREKA |
3.52 |
+ 3 cents |
TRACY |
3.23 |
- 14 cents |
| FREMONT |
3.36 |
- 4 cents |
UKIAH |
3.40 |
- 2 cents |
| FRESNO |
3.34 |
- 5 cents |
VALLEJO |
3.34 |
- 2 cents |
| MARYSVILLE |
3.32 |
- 12 cents |
YREKA |
3.48 |
- 8 cents |
| MODESTO |
3.30 |
- 6 cents |
Elsewhere… |
|
|
| MONTEREY |
3.42 |
- 6 cents |
LAS VEGAS |
3.07 |
+ 2 cents |
| OAKLAND |
3.51 |
- 1 cent |
LOS ANGELES |
3.30 |
- 3 cents |
| PLEASANTON |
3.41 |
- 7 cents |
NEW YORK CITY |
3.30 |
+ 6 cents |
| REDDING |
3.23 |
- 15 cents |
WASHINGTON, DC |
3.07 |
- 1 cent |
| SACRAMENTO |
3.28 |
- 12 cents |
|
|
|
| SALINAS |
3.39 |
- 2 cents |
|
|
|
| SAN FRANCISCO |
3.55 |
unchanged |
|
|
|
| SAN JOSE |
3.39 |
- 6 cents |
|
|
|
AAA’s Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 85,000 self-serve stations surveyed everyday nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.