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Gas prices creep below $4 mark, but how long will decline last?

A few weeks ago, Lidia Garcia could remember when the billboard outside the 7-Eleven posted a gas price approaching $5 a gallon. This morning, the 7-Eleven cashier looked out the window at the corner of 11th Avenue and Lacey Boulevard and saw how much it had declined. "For a few days now, gas has been about $4 a gallon," Garcia said.

Today, the 7-Eleven was advertising $4 for a gallon of regular unleaded, $4.10 for mid-grade and $4.20 for premium.

Some places in Hanford actually dropped below the $4 barrier.

Kings Gas and Deli Mart, on Lacey Boulevard across from Hanford West High School, was at $3.99 a gallon for regular unleaded. So was Buford Star Mart at the corner of Irwin and Center streets.

Garcia and other Hanford residents have noticed the lower prices.




But they aren't singing for joy quite yet. They can still remember the glory days when prices were in the $2 range.

Some noted that gas prices in California are still higher than in many other parts of the country.

"I just came from Reno, and it was $3.68 a gallon," said Bo Walker, a retired Hanford resident filling up at the 7-Eleven.

Walker called the drop "encouraging," but added, "I think it's still high."

Gas prices have been on the decline nationwide in recent weeks, according to the Associated Press.

The average price of a gallon of regular gasoline at self-serve stations was $3.85 Friday, down almost 15 cents from two weeks ago.

Mid-grade went for $3.98 and premium went for $4.10. That's according to the Lundberg survey of 7,000 gas stations nationwide, released Sunday.

The cheapest gas was in Tulsa, Okla., where a gallon of regular cost $3.50. Anchorage, Alaska, was most expensive at $4.37.

The California average was $4.10, down 22 cents from two weeks ago.

The Western states were the only region in the U.S. where gas remained above $4 a gallon on average.

As of midday today, oil fell from 15 cents to $114.30 a barrel on the New York Mercantile Exchange. Oil has fallen more than $30 from its July 11 high of $147.27.

For Hanford resident Karen Alzola, the drop is a good thing.

Alzola was filling up her Honda Odyssey van at the 7-Eleven. Total cost was about $70 for a full tank, she said.

"It's better. Right now, I don't have a job, so it helps a lot," Alzola said.

But she can remember the good old days.

"It's (still) kind of high. When I started driving, I think it was like $2.98," Alzola said.

The reporter can be reached at 583-2432.

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The following are comments from the readers. In no way do they represent the views of the Hanford Sentinel

N. Hanford resident wrote on Aug 12, 2008 1:45 PM:

" It seems that the price of the barrel of oil has rapidly fallen yet it is not being reflected at the pump. Sentenel, how about an article on the comparison of the price of a barrel of oil to the price at the pump and that how last time the barrel was at this current price, $4 a gallon was not the price at the pump. "

good ole boysgood ole paper wrote on Aug 12, 2008 4:50 PM:

" nice picture of Buford business...... "

actually suprised wrote on Aug 12, 2008 7:09 PM:

" Actually, I am suprised that it dropped the 50 cents within the last few weeks. Normally it goes up the 50 cent but then takes months to drop 10 cents when oil goes down.. A sign that we're getting to the point the oil tycoons don't like? Keep the addicts going.. find that fine line and stay right below it. "

WATCHDOG FRED wrote on Aug 12, 2008 8:15 PM:

" Las Vegas is selling gas much cheaper than California. For thos who say Ethanol doesn't play a part in price. Ethanol rating of 15% and gasolines rating of 85% sells for almost $3.50 per gallon in Las Vegas. But some stations have started doing something to recoup their costs of doing business a 35 cent a gallon pumping fee bringing the cost back up to #.85 per galloon and they pocket probably 50 cents a gallon a margin they haven't seen in many years, if ever.
So don't take too big a breath the other shoe hasn't dropped on this as of yet. "

WATCHDOG FRED wrote on Aug 17, 2008 10:20 AM:

" As soon as the elections are over, it will go back up again. "

whats the deal wrote on Aug 17, 2008 11:03 AM:

" this gas/fuel issue is rediculous its about as bad as the california budget not being passed why do we all continue to tolerate it? if they cant get there jobs done they dont need a check til it happens. when are people in california/the u.s. gonna wake up, our grandparents would have never tolerated what we do. when really is enough really enough does it take a civil war or what. people are being taxed while living in poverty, what the hell? "

dose wrote on Aug 17, 2008 7:37 PM:

" For the last 8 years it seems like whenever there is an election gas prices go down, and the terror alert goes up. This year we get a fake war in Russia and Georgia. "

Carl Spackler wrote on Aug 17, 2008 10:16 PM:

" good ole: Burford doesn't own the station in the picture anymore but funny comment none the less. "

Boyce Duprey wrote on Aug 19, 2008 9:41 PM:

" A fake war in Russia and Georgia? I'm sure the Georgian people would be glad to tell you how real it is to them.

Wanna reduce USA dependance on foreign oil. Reduce the desire for vehicles with V6-V8 engines that do 12 mpg or any car doing less than 25 mpg.

We will get to see $5 a gallon gas. "




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