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Sonora, CA — The recent record-high gas prices are resulting in a decline in demand, and a now correlating slight drop in price.
The Lundberg Survey reports that prices fell by a dime, nationwide, over the past week. The highest average price is in Los Angeles, at $5.85 per gallon, and the lowest is in Tulsa, Oklahoma at $3.52 per gallon. The average price in the United States is $4.27.
The cost is $1.32 per gallon higher than at this time one year ago.
Industry Analyst Trilby Lundberg says demand for fuel fell during the second half of March, resulting in the price drop. However, she says it doesn’t mean there will be further price declines in the near term, because the global oil supply remains tight, despite releases from strategic reserves.
The myMotherLode.com gas price section shows local prices ranging between 5.27 and 5.79 in Tuolumne and Calaveras counties.
Written by BJ Hansen.
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