Survey: Weak Economy Triggers Falling Gas Prices

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(Sacramento, CA)
Tuesday, July 14, 2009

The statewide average for a gallon of self-serve unleaded is $2.89. That’s three-cents lower than the last monthly survey taken on June 9th.

Matt Skryja is a spokesman for the auto club. He says prices are dropping because of low demand. 

“That can be most attributed to the poor economy and consumers are deciding that they really want to cut back on the amount of gas that they use and the joblessness rate of course impacts that as well. Fewer people having jobs mean fewer people on the roads.” 

Skryja says another reason for the drop in prices at the pump is the decline in crude oil prices. In the last two-weeks alone, market oil prices have declined almost 20% 

Nationally, prices have fallen a dime to an average of $2.52.

In Sacramento, prices are ten-cents lower than last month, at $2.80. Stockton prices are down by 12-cents from last month, at $2.75.