California Gas Prices Lowest Since April
Average gasoline prices in California fell for the eighth time in nine weeks to reach their lowest level since mid-April, the Energy Department said.
After soaring this spring to record heights, pump prices have steadily declined thanks to robust production at refineries and added imports, which have boosted fuel supplies.
The average price for self-serve regular in California dropped to $1.776 in the week ended Monday from $1.824 the prior week, and it now stands at its lowest level since April 9, when it was $1.754 a gallon, the agency’s Energy Information Administration said in its weekly report. The price also is now only a nickel-a-gallon higher than it was at this time last year.
The average nationwide price also hit a three-month low, dipping to $1.413 a gallon from $1.437 the prior week, the EIA said. Prices in California are substantially higher because of costs and taxes related to the state’s environmental regulations.