The average price of gasoline dropped by about 8 cents a gallon in California over the past week, but it will rise again on July 1 when the annual state gas tax increase takes effect.
The Bay Area’s biggest cities saw prices fall by as much as 10 cents in the past week, with San Francisco’s price sitting at $6.45, San Jose’s at $6.37 and Oakland’s at $6.40 as of Monday morning, according to AAA.
Bay Area prices by county as of Monday morning ranged from $6.29 in Solano County to $6.56 in Napa County, AAA data shows. The region’s gas prices remain the highest in the nation.
On Friday, prices in California will be 3 cents higher across the board as the state’s annual voter-approved gas tax kicks in, with the funds going to road repairs, rebuilding infrastructure and improving public transportation.
The national average dropped by about 4 cents a gallon to $5.05. It was the first drop in nine weeks and came with a drop in oil prices amid deepening global inflation fears, industry analyst Trilby Lundberg said.
“As lower gasoline prices make their way through distribution to retail, consumers will likely see further declines in coming days,” Lundberg said.
The average gas price in the Bay Area as of Monday morning still was more than $2 higher than a year ago, according to AAA.
The Associated Press contributed to this report.
Source: NBC Bay Area