Gas Prices Stay Somewhat Low

You've probably noticed somewhat lower gas prices in the Eastern Sierra. The new report out by the Auto Club says that fuel costs are at their lowest level since March. The report cautions, however, that the price of crude oil, which usually drives gas prices, remains high.gas_prices.jpeg

The Auto Club says that the statewide av erage cost of a gallon of regular unleaded gas is now $2.93. Spokesmen say that we have had 30 consecutive days of falling prices. Wholesale prices, according to the report, the price gas stations pay for fuel, have dropped even further, so there may still be some room for improvement.

The heart of the fuel price drop, according to the Auto Club, continues to be increased production from refineries and reduced demand for gasoline, compared to last year. It's a trend that may or may not last, and as the Auto Club points out, the high price of crude oil remains a threat to gas prices.

Locally, a gallon of regular unleaded sells for $2.75 up to $2.89 in Bishop and the Owens Valley. In the Mammoth Lakes area, the same gallon sells for around $3.37.

The Auto Club says they conclude that California drivers are working to cut back on the amount of fuel they use. For the past year, they report, they have seen a consistently lower demand for fuel while consumption continues to increase in other parts of the country.

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