SAN FRANCISCO (BCN) — Bay Area residents expecting to take a bit of a drive for Thanksgiving or the upcoming holidays can take heart that gas prices are continuing to drop.
According to the latest data from the American Automobile Association’s latest Fuel Gauge Report released, Bay Area gas prices are on average down seven cents from October’s report.
According to the report, San Francisco continues to top the list for gas prices in Northern California at an average of $2.89 per gallon of unleaded regular gasoline, despite also having one of the most significant price drops in the region.
The lowest gas prices in the Bay Area of the cities surveyed were in Concord and Vallejo at $2.72 per gallon.
“Gasoline demand typically retreats during the month of November, offsetting any major spikes in price due to supply shortages,” AAA spokeswoman Cynthia Harris said. “But unplanned outages could create volatility and put pressure on the state and national average in the near term.”
According to Harris, prices are predicted to continue to drop through December.
“Prices are continually dropping unless there is an explosion in a refinery or a lack of surplus,” Harris said. “But it is not likely because we have a glut of crude oil nationally and globally.”
According to Harris, Bay Area gas prices could drop as much as 10 cents by the end of the year.