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Business

Gas Prices in Santa Barbara Continue to Decline

Prices in Southern California fall for the ninth straight week

Southern California gas prices continued to drop for the ninth straight week, according to the Automobile Club of Southern California.

On Friday, the average price of a gallon of unleaded gas was $3.88 in Santa Barbara, 1.9 cents lower than last week. The national average is $3.615,  compared with California’s $3.747 statewide average, according to GasBuddy.com. The Santa Barbara average was $4.056 this time last month, and the national average was $3.744.

The average price in Santa Barbara has dropped about 4 cents a week during the past two months.

“Positive developments in Greece and a weaker U.S. dollar drove crude oil prices higher this past week, which may be why this week’s price decreases are not as steep as we’ve seen in prior weeks,” Auto Club spokesperson Jeffrey Spring said. “Oil futures are traded in U.S. dollars, which means that when the dollar weakens, investors, including those holding foreign currencies, get comparatively more oil for their money.”

A barrel of crude oil rose to $98.67 from $95.2 last week.

South Coast residents can find the least expensive gas at the Educated Car Wash at 3735 State St. at $3.64. The next least expensive stations are the 76 station at 4401 Via Real and the ARCO at 1116 Casitas Pass Road at $3.69 a gallon. Prices of $3.71 can be found at the Thrifty at 4069 State St., the ARCO at 1395 State St. and Conserv Fuel at 150 S. La Cumbre Road. Conserv Fuel has the lowest price on diesel fuel, at $4.15 a gallon.

The most expensive station is the Mobil at 49 Glen Annie Road and the Chevron at 6895 Hollister Ave. with gas priced at $4.29 a gallon for unleaded.

Noozhawk business writer Alex Kacik can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Become a fan of Noozhawk on Facebook.

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