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Gas Prices Continue Downward Slide

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(Sacramento, CA)
Tuesday, June 14, 2011

Analysts say the reason for the drop in prices is basic economics:

"High-supply, lower demand - fundamentals at work here driving prices down."

Patrick DeHaan with GasBuddy.com says compared to last year at this time, the supply of gasoline is way up. And wholesale prices are declining.

DeHaan says gas prices usually peak around this time of year because refineries switch to summer blends and the change can trigger equipment failures.

"However, those refinery kinks are worked out and it's working in our favor this year. So prices are falling."

Just a month ago, people in the Sacramento area were paying about $4.17 for a gallon of gas. Right now, the average price is $3.84.

DeHaan predicts we'll see the lowest gas prices all summer in June and July.


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