The average retail price of a gallon of regular gasoline has gone up 3.1 cents in the last week in Sacramento. Customers in the Capital City are now typically paying 2.99 a gallon.
“The jump in gasoline prices comes as oil remains near the highest level it has seen since late 2014,” said Gas Buddy’s Patrick DeHaam. “U.S. inventories of crude oil are 65 million barrels lower than last year.”
The head of petroleum analysis at Gas Buddy, DeHaam says drivers could be seeing discounts in the coming weeks because gasoline production is staying very strong.
“Refineries will have to start liquidating some of this winter gasoline which cannot be sold during the summer months,” DeHaam explained. “That could open up a brief window, if you will, of clearance sales at the pump.”
This week's average is 30 cents a gallon higher that this time last year.