Bay Area gas prices tumble 27 cents
Bay Area automobile drivers have seen gas prices go down by more than 25 cents compared to a month ago, according to a report released Tuesday by AAA.
Across the region, gas prices have fallen an average of $0.26 to $3.61 since Sept. 9, when AAA issued its last report.
AAA Northern California spokeswoman Cynthia Harris said:
“Low demand combined with abundant supply has kept downward pressure on global oil prices.”
Harris said increasing oil production nationally, the seasonal switch to the winter blend of gas and reduced consumer consumption are specific reasons behind the lower prices.
Prices are also down compared with a year ago, according to AAA. In the Bay Area, prices are down $0.27, compared with October 2013.
Unless there is an event that would cause prices to increase, prices could continue to drop through the holiday season. Harris joked:
“Things are looking down.”