CN: Gasoline prices fall as worries over economy deepen
Rapidly falling crude oil prices are starting to be reflected at California gas pumps, with price averages dropping below $3.10 in most areas this week, according to price surveys Friday.
“Crude oil prices have plummeted by about 14 percent in the last three weeks from their 2010 high point of nearly $83 a barrel on Aug. 4, but unfortunately, as is often the case, gas prices are dropping much more slowly,” says Jeffrey Spring, a spokesman for the Automobile Club of Southern California.
“However, prices are almost identical to where they were this time last year,” he says.
Here are Central Valley market averages on Aug. 27, driving from south to north, as reported by the American Automobile Association with last week’s (Aug. 20) averages in parentheses and [Aug. 7] prices in brackets:
Rapidly falling crude oil prices are starting to be reflected at California gas pumps, with price averages dropping below $3.10 in most areas this week, according to price surveys Friday.
“Crude oil prices have plummeted by about 14 percent in the last three weeks from their 2010 high point of nearly $83 a barrel on Aug. 4, but unfortunately, as is often the case, gas prices are dropping much more slowly,” says Jeffrey Spring, a spokesman for the Automobile Club of Southern California.
“However, prices are almost identical to where they were this time last year,” he says.
Here are Central Valley market averages on Aug. 27, driving from south to north, as reported by the American Automobile Association with last week’s (Aug. 20) averages in parentheses and [Aug. 7] prices in brackets: