Where To Find The Cheapest Gas In Calabasas As Prices Fall

CALABASAS, CA — Gas prices are continuing to fall nationwide, but in California, prices have remained higher than in any other state.

The average national price for a gallon of gas was $4.6 on Thursday. Meanwhile, California recorded an average of $5.99 per gallon, outpacing any other state. But the Golden State did see the third biggest price drop since last week, topped only by Arizona and Texas.

In Los Angeles County, the average price for a gallon of regular gasoline was $6.06 Thursday. The cheapest gas near Calabasas on Thursday could be found at a 7-Eleven station at 4919 Las Virgenes Rd. for $5.95, according to GasBuddy. Residents will want to steer clear of the Shell station located at 24115 Calabasas Rd. and the Chevron station at 24101 Ventura Blvd., both priced at $6.79 per gallon.

The falling prices are especially eyebrow raising following the 4th of July holiday, in which gasoline demand spiked considerably.

"Usually, more people buying gas would lead to higher pump prices," AAA spokesperson Andrew Gross said on Tuesday. "But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually means less expensive gas."

Prices have dropped 5.3 percent since June 14, when the state’s average reached $6.43, the Los Angeles Times reported. Wednesday’s state average of $6.02 is 41 cents less than it was a month ago.

Gas industry experts said falling oil prices could be causing fuel prices to fall, according to AAA.

Inflation surged to a new peak in June with U.S. consumer prices jumping by 9.1 percent year-over-year, according to data released Wednesday by the Bureau of Labor Statistics. Much of that increase was driven by inflated gas prices as Californians and people nationwide experienced record-high prices.

On Wednesday, President Joe Biden commented on the June inflation report, maintaining that the inflation reading was “out-of-date” since gasoline prices are down. He also said tackling inflation was his top priority.

“Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices that have reduced the price at the pump by about 40 cents since mid-June,” he said. “Those savings are providing important breathing room for American families. And, other commodities like wheat have fallen sharply since this report.”