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Bay Area Gas Prices Are Going Down – How Low Will They Go?

As crude oil prices hit a 12-week low on Wednesday, drivers in the Bay Area and across the United States may continue to see some relief at the gas pump in the coming weeks, according to petroleum-industry experts.

Gas prices are down about 10 cents at Bay Area gas stations in the past week. But it is unclear how long the downward trend will last, petroleum-industry experts said.

Fears of a global recession drove crude oil prices lower this week, said Patrick de Haan, head of petroleum analysis at GasBuddy.

On Wednesday, the price of West Texas Intermediate crude, the US oil benchmark, fell 97 cents to $98.53 a barrel and Brent crude, the global oil benchmark, fell $2.08 to $100.69 a barrel, Reuters reported. In April, both benchmarks were priced above $100 per barrel.

“Oil prices have completely fallen here in the last couple of days and that is likely to bring more gas price relief,” de Haan said.

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