Give Thanks at the Gas Pump

Prices Continue to Fall

KCBS Radio Morning News
November 20, 2018 - 6:39 am

SAN FRANCISCO (KCBS Radio) -- With AAA forecasting the highest Thanksgiving travel volume since 2005, motorists are likely to find heavier traffic. But they'll also find a pleasant surprise at the gas pump.

Gasoline prices,which peaked in early October, have been falling ever since. The latest data from AAA  show gasoline prices are down by about five cents a gallon from a week ago, and about fifteen cents a gallon from a month ago.

In the Bay Area, AAA reports an average price for unleaded fuel of $3.66 in San Jose, $3.69 in Oakland, and $3.82 in San Francisco. The statewide average for unleaded, as reported by AAA, is $3.63 a gallon.

The falling pump prices come as the price of crude oil plummets. Crude oil prices on commodity markets have dropped more than 25 percent since early October, a stretch that includes the largest single-day drop in three years and a record-setting twelve-day run of price declines.