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Year after Gaspocalypse, Californians saving $32 million a day on gas

On the one-year anniversary of the Gaspocalypse — the day California gasoline prices set a record for the lower 48 states — fuel here has fallen by 86 cents a gallon.

A year ago, retail gasoline prices in California averaged $4.67 a gallon, according to GasBuddy.com. Only Alaska has had a higher average price, briefly topping $4.68 in late July 2008, according to the gas price information website.

As of Tuesday morning, a gallon of unleaded regular averaged $3.81 in California. GasBuddy said careful shoppers can fuel up for as little as $3.40 to $3.60 a gallon throughout the state.

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The money lower gas prices leaves in the pockets of consumers is substantial. California drivers consume about 900,000 barrels of gasoline a day. 

A year ago, they spent about $176.5 million daily for fuel, GasBuddy estimated. Declining gas prices have brought that down to about $144.8 million, or a daily savings of about $32 million.

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Copyright © 2014, Los Angeles Times
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