Gas prices going down, slightly |

Gas prices going down, slightly

The trend of decreasing gasoline prices at Lake Tahoe is expected to continue – but not for long.

“They’re down, but they are still pretty high and still pretty close to the all-time highs we saw in March,” Paul Moreno, spokesman for the American Automobile Associations of Nevada and California, said Tuesday after statewide surveys of prices were completed. “The drops should continue into May, but once we hit the summer driving season, we’re going to see strong demand for gasoline. That will put strong pressure on gas prices.”

South Lake Tahoe’s average price for a gallon of regular gas Tuesday was $1.72, according to AAA. That is down 15 cents from March, the all-time record for the area. Prior to last month’s record-shattering prices, the previous high for the area had been $1.74.

Nevada’s average Tuesday was $1.80; California’s was $1.78. Both were down from record-high March numbers.

Moreno said he couldn’t estimate how high prices could go this summer.

“I can’t say how much they’re going to go up, but, come Memorial Day, you’re probably going to see a change in the dropping gas prices, if not before then,” Moreno said.

The earlier highs had been caused by a “double whammy” of the soaring cost of crude oil and low inventories at refineries.

The price of crude oil has decreased; however, inventories remain low.

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


California re-opens enrollment for health insurance coverage

SACRAMENTO, Calif. (AP) — California on Monday re-opened enrollment for its state health insurance exchange, hoping more people will buy coverage now that the federal government is offering new assistance that could lower monthly premiums by $1,000 or more in some cases.

See more