FRESNO (KMJ) — If you need a pick-me-up this Monday to energize the start of a new week how about this.
Gas prices are going down again.
The rise we all experienced about a month ago was a reflection of reduced supply, but now there’s more oil available again.
Put simply the drop in prices is down to the increased supply now available.
What’s more, the national average price we’re seeing right now is actually lower than it was last year.
“One year ago the average retail price for a regular grade was $3.48”, says industry analyst Trilby Lundberg. “That’s 77c higher than what it was today”.
We all experienced a supply crunch here on the West Coast, which resulted in higher prices for the increased demand. But now that cost per gallon is lowering and getting back to normal.
“If it had not been for the supply shortage in the mid-west in this period, we would have seen a decline at the pump and I still think we’re going to see heavy declines in pump prices”
With more fuel stocks in our part of the world, the price in the valley is now looking better.
The lowest in Fresno is around $2.89 per gallon, in Madera around $2.95 per gallon, in Visalia around $2.99 per gallon, and in Merced around $3.09 per gallon.
But the lowering of prices isn’t reflected in the national average, which has risen slightly over the last two weeks.
