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PRESS RELEASE / ANNOUNCEMENTS Wednesday, January 20, 2016

Santa Barbara Weekly Fuel Update and Outlook


January 4- Average retail gasoline prices in Santa Barbara have risen 3.3 cents per gallon in the past week, averaging $2.99/g yesterday, according to GasBuddy’s daily survey of 56 gas outlets in Santa Barbara. This compares with the national average that has fallen 0.5 cents per gallon in the last week to $1.99/g, according to gasoline price website GasBuddy.com.

Areas nearby Santa Barbara and their current gas price climate:
Bakersfield- $2.80/g, up 4.7 cents per gallon from last week’s $2.75/g.
Los Angeles- $3.06/g, up 3.3 cents per gallon from last week’s $3.03/g.
Ventura- $3.06/g, up 3.9 cents per gallon from last week’s $3.02/g.

Including the change in gas prices in Santa Barbara during the past week, prices yesterday were 24.6 cents per gallon higher than the same day one year ago and are 24.2 cents per gallon higher than a month ago. The national average has decreased 5.0 cents per gallon during the last month and stands 19.9 cents per gallon lower than this day one year ago.

Talk about starting the New Year off right,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “The national average at $1.99 is a great way to begin 2016, and over twenty cents lower than where we started 2015. The good news is that we could see even more price drops before the seasonal lift that will likely begin as we push towards Spring. For any Americans that made resolutions to try and spend less at the pump this year, I think they will be in good shape to achieve that. The fundamentals of oil remain weak which will contribute to low oil prices for some time, while gasoline demand will likely move lower now with the holidays behind us, putting downward pressure on gasoline prices,” DeHaan said.

GasBuddy will be unveiling its 2016 Fuel Outlook in the weeks ahead, which will shed light on what the fuel price climate will be for motorists in the year ahead.

For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com. For fuel news and alerts, follow @GasBuddyNews on Twitter.

About GasBuddy.com

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.

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