WALNUT CREEK, Calif. – Prices at the pump are in neutral or getting cheaper in most of the country even though this is the time of year when gas prices go up. California drivers will find an average price of $4.92, an increase of a penny from last week. Nevertheless, this remains lower than the $5.38 average Californians paid a year ago.
“The main reason why gas prices are trending lower is supply and demand,” AAA Northern California spokesperson Doug Johnson said. “Demand for fuel remains relatively weak, and gas prices across the country are cheaper than last spring as a result.”
After OPEC+ announced its increasing oil production next month by more than 400,000 barrels a day – much more than expected – the price of crude oil has been falling. Oversupply coupled with tepid gasoline demand is resulting in lower pump prices…