Chico gas prices continue to drop, national average below $3

Nov 3, 2014 12:32 PM by News Staff

For the first time since late 2010, the average price for a gallon of gas in the U.S. is below $3. In Chico prices continue to fall, averaging $3.13 a gallon.

Average retail gasoline prices in Chico have fallen 5.8 cents per gallon in the past week and prices Sunday were 51.6 cents per gallon lower than the same day one year ago and are 38.8 cents per gallon lower than a month ago.

The biggest question people are asking now, will the prices stay down? Patrick DeHaan, senior petroleum analyst with GasBuddy says "We have two different scenarios for gas prices from here on- if oil prices hold their current $80 level, gas prices nationally may see their decline wind down, only dropping another few cents. But if oil prices can drop to $78 or less, we could see the national average decline for several more weeks. It's hard to tell right now which way the market will go, since oil prices have halted their decline in the last week."


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