For Immediate Release: July 2, 2026
WHAT YOU NEED TO KNOW:
Crude oil prices have dropped by about $1 per gallon in recent weeks, but consumers haven’t seen those savings yet. Before hitting the road this weekend, be sure to shop around for a good deal at the pump.
SACRAMENTO — Today, the Division of Petroleum Market Oversight (DPMO) issued a consumer advisory to encourage consumers to shop around ahead of the July 4 holiday weekend.
“Crude oil prices have dropped by about $1 per gallon since May, but we are not yet seeing those full savings at the pump,” said DPMO Director Tai Milder. “As consumers, we have a critical role to play: Shopping around for affordable gasoline not only can save you money, but help push higher priced — often branded — stations to compete.”
Retail gasoline prices commonly go up much faster than they come down, a phenomenon sometimes called “rockets and feathers.” One contributing factor is that consumers are less likely to search for cheaper gasoline when prices are going down.
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About the Division of Petroleum Market Oversight
The Division of Petroleum Market Oversight is an independent agency within the California Energy Commission responsible for oversight, investigations, economic analysis, and policy recommendations regarding the transportation fuels market. The watchdog agency is a key part of the California Gas Price Gouging and Transparency Law, Senate Bill X1-2, enacted in special session in 2023.
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