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PRESS RELEASE / ANNOUNCEMENTS Friday, November 4, 2011

Santa Barbara Weekly Gas Price Update and Outlook

Average retail gasoline prices in Santa Barbara have fallen 7.2cents per gallon in the past week, averaging $3.89/g yesterday.


This compares with the national average that has fallen 0.6 cents per gallon in the last week to $3.46/g, according to gasoline price website SantaBarbaraGasPrices.com.

Including the change in gas prices in Santa Barbara during the past week, prices yesterday were 67.7 cents per gallon higher than the same day one year ago and are 2.8 cents per gallon higher than a month ago. The national average has decreased 1.2 cents per gallon during the last month and stands 65.5 cents per gallon higher than this day one year ago.

With some European resolve in regards to the Greece debt situation, oil prices took off late last week,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “While the national average has remained relatively subdued in the last couple weeks, we may see aslow climb in the national average this week. The national average for gasoline has barely climbed, even as crude has gained some $20/bbl from the lows we saw nearly six weeks ago. As we approach heating oil season, we’ll also see support for diesel prices, which is sure to frustrate diesel consumers, who are paying as much as eighty cents more per gallon than gasoline consumers,” DeHaan added.

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