SACRAMENTO (CBS13) – Gas prices in Sacramento are 64 cents per gallon higher than a year ago at this time, according to GasBuddy.
A gallon of regular currently averages $3.50 in Sacramento. Last year we paid an average of $2.85. In 2016 we paid $2.69.
GasBuddy says Stockton drivers are currently paying an average of $3.51 for a gallon of regular. In Modesto it’s $3.47.
Despite the jump year-to-year, the price only increased 1.1 cents per gallon in the past week. Nationally, the average price actually dropped 0.9 cents in the past week.
“The rise in gas prices has slowed substantially in the last week in some places, with 15 states seeing gas prices move lower versus last week,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. He credits summer gasoline now being sold in gas stations. The switch from the winter to summer blend did cause prices to go up.
Industry analyst Trilby Lundberg of the Lundberg Survey says the increase is largely driven by higher crude oil costs and the phasing-in of summer-grade gasoline, which is used to prevent smog.
DeHaan did warn prices may spike again depending on what President Trump decides in regards to the Iran Nuclear deal. Killing the deal could lead to higher prices.