Relief at the Pump? Local Prices Join Nationwide Trends

Relief at the Pump? Local Prices Join Nationwide Trends title=
Relief at the Pump? Local Prices Join Nationwide Trends
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By the edhat staff

Could we be seeing some relief at the gas pump? Prices are trending downwards causing experts to believe the hurt is fading.

As of Tuesday, the U.S. national average price of gas has fallen back under the $4 mark to $3.99 per gallon for the first time since early March, according to GasBuddy. Gas prices have declined over $1 per gallon nationally since peaking at $5.03 on June 14, fueled by falling oil prices over the last month. 

In Santa Barbara County, prices have decreased by about $0.75 since the peak in June. As of Tuesday, August 9, the cheapest gallon of unleaded is located in Buellon at Tom's Gas for $5.09/gal. On the South Coast, World Gas off Fairview Ave in Goleta is offering the least expensive at $5.29/gal.

For nearby Los Angeles County, the average price of a gallon of self-serve regular gasoline decreased for the 55th consecutive day to $5.482, its lowest amount since March 7. The average price has dropped 98 cents since rising to a record high of $6.462 on June 14, according to figures from the AAA and the Oil Price Information Service.

Gas prices were well over $6/gal in Santa Barbara County the past few months with some stations in Los Angeles posting prices over $7/gal.

Although gas prices have slowly trended downward, fewer drivers fueled up last week, the peak of summer driving season. It's led experts to believe Americans are changing their driving habits to deal with higher prices. The cost of oil has edged lower on fears of economic slowdowns throughout the globe, causing the national average for a gallon of gas to fall to $4.05.

“Oil is the primary ingredient in gasoline, so less expensive oil is helpful in taming pump prices,” said Andrew Gross, American Auto Association (AAA) spokesperson. “Couple that with fewer drivers fueling up, and you have a recipe for gas prices to keep easing. It’s possible that the national average will fall below $4 this week.”

In a new AAA survey, almost two-thirds of U.S. adults have stated they are driving less and combining errands to reduce spending money on gas.

Experts anticipate a slight increase around Labor Day, but expect prices will continue to decrease as we move into the Fall. 

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JoeSixPack Aug 11, 2022 08:24 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Can we all just acknowledge that the system is broken?
Don’t fall prey to participating in perpetuating the repetitive petty parlor game of partisan politics.

The tendency of power to corrupt is not limited to a political party...

• Get money out of politics
• Repeal Citizens United
• Congressional term limits
• Ban lobbyist

jak Aug 11, 2022 06:09 AM
Relief at the Pump? Local Prices Join Nationwide Trends

All I know is that in my small rural (expensive) community far outside my old home base in paradise on the beach I was paying $1.36/gallon for normal gas two years ago and under a buck for lawnmower gas. A year ago it was close to four bucks for normal gas and it was flirting with five bucks for a week or two six months ago. Today I noticed that it was back to just under three and a half bucks. Progress for sure but still a long way to go. I want my orange haired troll back (and a roll of duct tape).

a-1660174936 Aug 10, 2022 04:42 PM
Relief at the Pump? Local Prices Join Nationwide Trends

Some news stories on recent oil company profits:

https://www.usatoday.com/story/money/economy/2022/05/07/oil-company-record-profits-2022/9686761002/

https://www.cbsnews.com/news/oil-companies-record-profits-2022-exxon-chevron/

https://www.nasdaq.com/articles/record-oil-profits

sbdude Aug 10, 2022 07:56 AM
Relief at the Pump? Local Prices Join Nationwide Trends

The price of crude is now less than it was before the invasion, which started the great run-up in gas prices. However, the price of gas around town is still about a buck higher than it was back around the same time, while oil company profits are at record levels. I don't think the lack of availability of crude is the problem here...

jak Aug 11, 2022 06:11 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Chip, the cost difference between California formulations and non-California formulations may not be as big as you think. I’ve lived in the southeast for ten years now and we occasionally get Cali grade fuels and they don’t cost enough extra to bump the retail pump price. Taxes? That makes a bigger difference since some states have low gas taxes and no sales taxes or other surcharges on fuel. Still, the total cost of gas taxes plus all other taxes, fees, and direct regulatory costs are barely a dollar more than a buck higher than the cheapest states. Bottom line is that it’s just expensive to live in most of California.

Last week I bought a two pound box of premium strawberries from Driscoll Farms in Oxnard. Cost me $3.49 at my nearest Costco. How much does Costco charge in Goleta for the same item? Eggs? Still under a buck a dozen. Levis 501’s? Twenty five bucks. Don’t even get me started about income, sales, and property taxes.

Chip of SB Aug 10, 2022 09:44 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Good point sb dude. We should be asking why nobody is allowed to build a refinery and sell fuel for less. When was the last time a new refinery was built, and why is our capacity to refine oil in decline? We should also be asking why we aren’t allowed to buy the 49 state fuel available outside of CA for $1-2 less than what we pay here.

SBTejano Aug 10, 2022 05:58 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Yes, the pain at the pump will continue and is directly related to the incompetence of the Biden administration. The loss of the Keystone pipeline, lack of drilling, refining and a total war on fossil fuels have manufactured this crisis. Emboldening our enemies and crippling our economy in the process.
Individuals such as Buttigieg, Granholm and Regan are all involved in this massive fraud against consumers. The boycott by huge investment funds against oil companies further cripples the ability to drill and explore. Shameful and unacceptable and will hopefully change after November.
Record gas prices, inflation, recession and dependence on a Chinese dictatorship all on a Chief Executive who is both compromised and incapacitated!

SantaBarbaraObserver Aug 10, 2022 10:20 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Do you know why Honeybee's dont waste their time teaching Flies that flowers are sweeter than poop? Because flies, like many humans, are incapable of understanding things beyond their natural ability.
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Get it?
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Yeah, figured you wouldn't...

Voice of Reason Aug 10, 2022 10:01 AM
Relief at the Pump? Local Prices Join Nationwide Trends

SBO, you just accurately described both political parties. Literally spot on in everything you wrote. My question is how are you so easily manipulated to think that the Dems/Left-Wing don't do exactly what you described? I mean seriously, hold up a mirror "But a large portion of our population is controlled by centralized propaganda designed to do two things: anger and distract." You even repeat that propaganda exactly they way they want you to, so you get angry and distracted - angry at those "evil people" on the right and distracted from the fact that the Dems enact legislation that provides a pittance to the actual people they claim to stand up for while providing windfalls for their corporate donors - Wall Street, Big Pharma, Oil Industry (yes oil, look up what's in the very inaccurately named Inflation Reduction Act, same for Wall Street when they pulled the carried interest tax change). That pittance they provide actually disappears when the massive spending they enact elsewhere continues to drive down the value of the dollar.

SantaBarbaraObserver Aug 10, 2022 06:57 AM
Relief at the Pump? Local Prices Join Nationwide Trends

Imagine being this easily manipulated? I cant. But a large portion of our population is controlled by centralized propaganda designed to do two things: anger and distract.
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When you wonder why we're so divided, check out any Right-Wing media of your choice (Cable TV, Talk Radio, Podcasts, Youtube, Facebook, etc) and you will see, hear and read a coordinated propaganda machine at work. They all repeat the same lines, the same lies and do it in a coordinated fashion. Why? Because stupid angry people are easy to control. That's why we have people like this poster repeating unfounded and well documented lies and half-truths.
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What a time to be alive! The worst people have the loudest megaphones and they're getting very wealthy stealing the lives and the sanity of millions of innocent - albeit ignorant, people. Its sad that these people are more interested in aiding billionaires and charlatans than they are their fellow American. But that's what happens when evil people take hold of power. They lie, cheat and steal their way into office and will say and do anything to keep it.... How anyone making less than $1,000,000 a year votes for anyone in the GOP is the real crime. They are doing the bidding for billionaires and megalomaniacs and losing everything in the process...

Voice of Reason Aug 09, 2022 05:33 PM
Relief at the Pump? Local Prices Join Nationwide Trends

Ummmm, those were literally Biden campaign promises: "No more subsidies for fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends.” - Joe Biden.................................
"I'm not going to shut down the country, I'm not going to shut down the economy, but I'm going to shut down the virus" -Joe Biden Oh, and that "war" didn't start until Biden was in office, so much for the "Diplomacy is back at the center of our foreign policy." statement.....

Chevy67 Aug 09, 2022 04:18 PM
Relief at the Pump? Local Prices Join Nationwide Trends

Yeah! Those pre-pandemic, pre-war prices that T did absolutely nothing to help. Bring those back Biden! Hurry up and cure diseases and solve all international conflicts to lower those prices, what else could you be doing Mr. Prez? /s

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