Sep 21, 2015 2:36 PM by News Staff
Gas prices across the U.S. are continuing their downward march and prices in Chico are down more than a nickel, according to the website GasBuddy.com.
Average gas prices across the U.S. dropped 3.7 cents to $2.29 per gallon, and in Chico prices fell 6.1 cents in the past week, averaging $2.71 per gallon.
The national average has decreased 34.1 cents per gallon during the last month and stands at 104.2 cents per gallon lower than this day one year ago.
Patrick DeHaan, GasBuddy senior petroleum analyst, attributed the weekly decline to a growing pessimism in the oil industry following the Federal Reserve's decision to not raise interest rates.
"Nearly one in four stations are now selling gasoline under $2 per gallon, and it looks like that should only grow in the weeks ahead," DeHaan said in a statement.