After flirting with the $5 a gallon milestone , self-serve regular is back to being under $4 a gallon at some pump stations in Burbank. Yesterday, I gassed-up at the Shell station at Buena Vista Street and Magnolia Boulevard for $3.89 a gallon for self-serve regular.
Back in early October, the price soared to 4.60 a gallon and above for regular. The last time gas prices were that high in California was back in June of 2008. A gas shortage and problems at the oil refineries were blamed for the jacked up prices. Governor Jerry Brown took emergency action, which allowed the refineries to switch from making summer-to-winter blend gasoline several weeks early to boost supplies and ratchet down prices. Apparently it worked.
Around the beginning of November, self-serve regular prices dipped below $4 in the Media City and have continued to drop over the past few days. Hopefully, the price reduction is part of a trend, which will last through the holiday season.