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Bay Area Gas Prices Continue To Drop From October Spike

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(Frederic J. Brown/AFP/GettyImages)

(Frederic J. Brown/AFP/GettyImages)

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SAN FRANCISCO (CBS SF) — Drivers going to the pump throughout the Bay Area will be paying less to fill up their tanks in the next couple weeks, an American Automobile Association Northern California spokeswoman said.

Gas prices in the Bay Area have dropped to an average of $3.98 per gallon for regular unleaded fuel, down 69 cents since October, spokeswoman Cynthia Harris said.

The dip in price can be attributed to lower crude oil prices, the seasonal switch from the summer to winter blend, and reduced demand, Harris said.

Pump Patrol: Find The Bay Area’s Cheapest Gas

Vallejo has the lowest price at the pump in the Bay Area, costing $3.78 per gallon of regular unleaded gas, Harris said.

As of Wednesday, the price in Vallejo is 80 cents cheaper than one month ago, she said.

San Francisco has the highest gas prices on average, costing $3.96 per gallon, down 67 cents from last month, Harris said.

Harris said in the current trend, prices will continue to drop at a penny per day.

“Barring any unforeseen circumstances, prices could drop around six to eight cents by Thanksgiving,” Harris said.

“Prices could continue to see more drops after Thanksgiving, but probably won’t drop below $3.87,” she said, speaking of the Bay Area average.

Harris said the gas prices are reaching their normal price for this time of year.

Nationwide, the average price for gas is $3.44, a 38-cent drop from early October, Harris said.

By the end of the year, the national average in gas price will be somewhere between $3.10 and $3.40 per gallon, she said.

(Copyright 2012 by CBS San Francisco and Bay City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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