Gas prices below $3 a gallon, a 33-month low – Daily News

on Apr8
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Southern California drivers are seeing gasoline priced below $3 a gallon for the first time since the summer of 2017.

The average retail price for all grades of gasoline was $2.97 a gallon of April 6, according to a weekly report from the U.S. Energy Information Administration. That’s down 7 cents in a week and 85 cents in a year.

It’s the lowest average price since the week ended July 17, 2017.

Gasoline prices have tumbled as global economic weakness and “stay at home” orders have limited driving and trimmed crude oil prices, gasoline’s key ingredient. Lower demand translated to the local gas price index falling for five weeks by 51 cents, the biggest drop since Feb. 22, 2016.

Nationally, gasoline averaged $2.02, down 8 cents in a week, off 80 cents in a year and the lowest since March 7, 2016.

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