Many Bay Area drivers are noticing the change, as some stations are now charging less than $5 for a gallon of regular.
"It's a lot lower. I'm commuting from San Francisco down to San Mateo, so that definitely helps," said Toki Burke."I fill up every two weeks, so it's noticeable. Each time I come to the pump, it's definitely lower than the last time."Patrick De Haan, the head of Petroleum Analysis at Gas Buddy, says it's a 'rarity' to see a decline in prices last this long.
"A lot of this is due to concerns over the broader economy, the Federal Reserve raising interest rates – and that could slow the economy down or put it in a recession – which could then slash oil consumption. Not only that, but gasoline supplies have increased modestly over the second half of the summer. Both of those are pushing prices down," De Haan told KPIX 5."We are starting to see more stations in the Bay Area fall under that $5 a gallon mark.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bay Area men, teens arrested after alleged violent robberies of North Bay beauty shops, police chaseThe suspects face possible charges of robbery, grand theft, conspiracy, assault with a deadly weapon, resisting arrest, and evading officers, police said.
Read more »
Nights of frights ahead as Zoombezi Bay becomes ZOMBIEzi Bay beginning Sept. 16Prepare for a night(mare) of jump-scares and screams as Zoombezi Bay turns to ZOMBIEzi Bay beginning Sept. 16. Here's what you need to know if you go.
Read more »
A hidden treasure of Brazilian music heading back to Bay AreaGuinga, the revered Brazilian composer and guitarist, will return to Bay Area to perform in Oakland, Berkeley, San Jose and Santa Cruz.
Read more »
Police allege woman embezzled $661,000 from Bay Area businessThe woman’s former employer told authorities that the theft had apparently gone on for years.
Read more »
Bay Area chef departs from his 3 Michelin starred restaurantKinch hopes to focus his efforts on his other Bay Area businesses.
Read more »
New face at the top, but same expectations for Bay Area Christian footballVeteran assistant Carey Sink takes over as head coach but Bay Area Christian's...
Read more »