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Gas prices continue to inch their way down a little faster

Posted at 11:36 AM, Jul 25, 2022
and last updated 2022-07-25 14:36:09-04

(KERO) — Gas prices continue to inch their way down a little faster. Triple-A reports the average price nationwide is $4.36. That's down 17 cents in a week and 56 cents in the last month.

Gas prices have now fallen for five weeks in a row after topping out at an average of $5 per gallon.

Prices still have a long way to go when compared to last year. The average price for a gallon of unleaded at the same time last year was $3.15 a gallon.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the continued decline comes as crude oil costs also fall.

“Further drops at the pump are likely as the wholesale gasoline price cuts continue making their way to street level,” Lundberg said in a statement.

According to GasBuddy the average price in California is still the highest in the nation at $5.71. In Kern County it's slightly higher at $5.79. And the average price in Bakersfield is $5.85.

GasBuddy says the cheapest gas can be found at the Fastrip in Wasco on Paso Robles Highway for $5.13 a gallon.

The Associated Press contributed to this report.