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Gasoline prices dropping in Burbank

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Photo: FLLewis / Media City G- Gas prices at Arco station Hollywood Way and Magnolia Blvd in Burbank October 22, 2014

Photo: FLLewis / Media City G- Gas prices at Arco station Hollywood Way and Magnolia Blvd. in Burbank October 22, 2014

Gasoline prices are dropping at the pumps all over Burbank and elsewhere.  The AAA Daily Fuel Gauge Report says the national average is $3.086 a gallon for regular. That’s the lowest it’s been since early 2011. Gas prices are not quite that low in the Media City — but they might get there soon. Today, I joined a crowd of motorists jockeying for pump space at the Arco station, 3701 West Magnolia Boulevard.

Photo: FLLewis / Media City G -- Motorists lined up for gas at the Arco station 3701 West Magnolia Blvd Burbank October 22, 2014

Photo: FLLewis / Media City G — Motorists lined up for gas at the Arco station 3701 West Magnolia Blvd Burbank October 22, 2014

This station claims to have some of the cheapest gas in the Media City. Today I paid $3.29 a gallon for regular here. A few blocks away,  regular was selling for $3.47 a gallon at the Shell station 2500 West Magnolia Boulevard. Why are gas prices plummeting? “Decreased demand, relatively lower crude prices and the cost savings associated with producing winter-blend fuel will likely keep downward pressure on the price for retail gasoline,” according to another AAA report.

Let’s hope the decline in gas prices continues through the holidays when they are known to spike, as thousands of motorists hit the highways and freeways.

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