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Gas prices on the decline with some prices dropping below $5 in Sacramento

The drop in gas prices comes as counties wade through record inflation.

SACRAMENTO, Calif. — The national average for a gallon of regular gas is just over $4, and even in Sacramento, there are some prices below $5 a gallon.

ABC10 spoke to drivers who have been watching prices fall below the $5 mark at One Stop Gas on 16th Street in Sacramento. 

If customers paid in cash, Tuesday's price was $4.89.

From New York to California, drivers across the nation are finally feeling a bit of relief at the pump as prices take a dive. The national average fell to $4.03 per gallon. It's the lowest price since early March when Russia invaded Ukraine.

 "I'm filling up today because it's so much cheaper," said Jake Botus, a customer at the One Stop Gas station.

In Los Angeles, prices topped nearly $6.50 last month, however, drivers are now doing a doubletake over the savings as prices in Los Angeles County dropped for more than 53 consecutive days. It's down to $5.50 per gallon.

In the Capital City, things are going better than in Southern California, however the drop in gas prices comes as counties wade through record inflation.

Senate Democrats successfully pushed the Inflation Reduction Act, a bill they say will help lower the cost of everything from health care to energy costs.

 "The reason we call this the Inflation Reduction Act, it doesn't just talk about inflation. It actually lowers costs of some of the biggest price problems that we have in New York and in the country," said Senator Chuck Schumer (D).

However, Republicans argued that it wouldn't make a difference.

"This won't reduce inflation. It won't but what it will do is drive up the cost of gasoline and the cost of doing business," said Lindsey Graham, (R-South Carolina).

While gas prices play a significant role in inflation, it's unlikely to significantly decrease inflation just yet, especially be cause the cost of other factors like housing, which continues to climb.

Since gas prices are lower, analysts predict airfares might dip as well. Grocery prices could also fall slightly because producers and distributors won't have to pay as much for transportation in order to their goods onto store shelves.


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