Bay Area gasoline prices drop 30 cents since last month

Prices in Pleasanton nearing the $2.20 mark at some stations

Gas prices dropped 30 cents in one month in the Bay Area and may stay low despite a typical increase in prices in the spring, according to a report by the American Automobile Association.

High inventories of gasoline and continued production are being given as reasons for the continued low prices, which haven't been lower since the last recession.

The average price of gas in the Bay Area is currently $2.42, down 30 cents from January. In Pleasanton prices are hovering as low as $2.20.

In San Francisco, the average price of gas dropped 25 cents while in San Jose the price dropped an average of 32 cents. The price in Oakland dropped an average of 31 cents, according to AAA.

AAA officials said demand for gas typically increases in February, which is also the start of gas refinery maintenance season when prices can go up.

But because gas and crude oil inventories are high, gas prices may stay low this year if no major supply disruptions or cuts in production occur, AAA spokeswoman Cynthia Harris said.

The national average price for gasoline is $1.73 and the average price in California is $2.49, according to AAA.

Keith Burbank, Bay City News

— Bay City News Service


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