Local

Regular at the pump not so regular

Saturday, September 18, 2010

Central Valley drivers are experiencing a positive trend at the pump. Gas prices have dropped on average 15 cents below where they were a year ago.

The cost of regular gasoline in the Central Valley is down and drivers like Edward Murdock are taking advantage of it. "Now I can take an extra trip go fishing, go up to the mountains, get out of the Valley and have a good time with the family."

"You don't really have a choice. You're kind of held hostage. When they come down like this from $3.19, $3.21 which they were you can really see a difference," Mike Leslie said.

Leslie fuels up his Chevy Tahoe at least 7 times a month.

He's noticed with this price drop a savings of at least $50. A trend other drivers should notice according to economics teacher and fuel distributor Scott Cain.

"All the evidence is pointing to lower gas prices and not necessarily higher," said Cain adding crude oil prices are down which also benefits drivers.

"A couple of months ago we had crude oil at $90/ barrel. Well that is a signal for producers, 'Hey, demand is coming back. Produce more. Produce more.' And so they did that but it never materialized. So then they're sitting on this pot load of crude oil right now," Cain said.

This surplus has created a fuel inventory which is benefiting drivers in the end.

"So what we've seen are crude oil inventories and fuel inventories near ten year highs," Cain said.

That's positive news financially conscious drivers like but some still tell Action News they are worried prices will creep back up.

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fresno, fresno county, auto, gas prices, local, john-thomas kobos
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