20 Percent Annual Inflation in Gas Prices
Roseville, CA- Roseville gas prices on average have reached price levels not seen in four years. The cost of filling up your tank has risen approximately twenty percent since 2017.
Gasoline prices in Sacramento have risen 5.5 cents per gallon in the past week, averaging $3.58/g yesterday, according to GasBuddy’s daily survey of 720 stations in Sacramento. This compares with the national average that has increased 1.5 cents per gallon versus last week to $2.87/g, according to GasBuddy.
Average gasoline prices on October 1 in Sacramento have ranged widely over the last five years:
$2.97/g in 2017, $2.67/g in 2016, $2.69/g in 2015, $3.59/g in 2014 and $3.81/g in 2013.
Including the change locally during the past week, prices yesterday were 60.5 cents per gallon higher than a year ago and are 13.2 cents per gallon higher than a month ago. The national average has increased 3.5 cents per gallon during the last month and stands 33.4 cents per gallon higher than a year ago.
Areas in California and their current gas price climate:
Stockton- $3.56/g, up 4.5 cents per gallon from last week’s $3.51/g.
Modesto- $3.50/g, up 4.4 cents per gallon from last week’s $3.45/g.
Oakland- $3.73/g, up 3.1 cents per gallon from last week’s $3.70/g.
“Overarching concern over tightening global oil supplies, in advance of U.S. trade sanctions on Iran, have helped WTI rise $2.47 a barrel in just the past week, while Brent crude oil picked up nearly $4 in value to achieve thresholds not seen since November, 2014,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.
“Looking ahead, the squeeze in global supplies will almost certainly put gasoline prices under pressure and provide a strong basis for further increases at the pumps at a time when drivers are accustomed to seeing prices soften. Short of producing countries suddenly finding a million spare barrels of oil over the month of October, drivers should brace for even higher prices over the next several weeks.”
GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.