Gas prices are starting to decrease in Solano County. Will the trend last?
(File photo by Matthew Keys for Solano NewsNet)
If it seems like gas prices are slightly lower at your favorite refueling station, you’re not imagining things.
Stoked by concerns of an oncoming global recession, oil prices have started declining in recent days, with the price of Brent Crude dropping by 13 percent over the past month.
With the drop in oil prices comes a slight decrease in the national average price of gas — from $5 a gallon last month to around $4.75 a gallon this month.
For a number of reasons, gas prices are higher in California compared to the national average, with motorists paying near $7 a gallon by mid-June. Since then, prices have eased up somewhat, with some stations in Solano County offering fuel for as little as $5.45 a gallon — even after an increase to the state’s fuel tax took effect last Friday.
Some analysts think oil prices could fall even more — reversing a long-held belief among financial experts that high gas prices would remain through Labor Day — as global inflation and recession concerns strengthen.
Even if oil prices do come down, it could take weeks before that effect is felt in California.
Here are the top 10 cheapest places for gas in Solano County as of Thursday, according to the website GasBuddy.com:
Bonfare (Walters Road, Fairfield): $5.49 per gallon
Valero (Sacramento Street, Vallejo): $5.49 per gallon
Valero (E. Travis Boulevard, Fairfield): $5.49 per gallon
AAFES Exchange (Travis AFB): $5.59 per gallon
Valero (Peterson Road, Suisun City): $5.69 per gallon
Costco (Business Center Drive, Fairfield): $5.69 per gallon
Sinclair (Lincoln Road West, Vallejo): $5.69 per gallon
Shell (Lincoln Road west, Vallejo): $5.75 per gallon
76 (Walters Road, Suisun City): $5.79 per gallon
Chevron (Central Way, Fairfield): $5.89 per gallon
(Prices are for a single gallon of regular, unleaded fuel)
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