Gas Drops to Lowest Price Since May '09

The average price of a gallon of self-serve regular gasoline in the Inland Empire dropped Friday to its lowest amount since May 17, 2009, decreasing 1.6 cents to $2.514.

The average price has dropped 10 consecutive days, decreasing 12.8 cents, including 2.3 cents on Thursday, according to figures from the AAA and Oil Price Information Service. It is 9.7 cents less than one week ago, 32.7 cents lower than one month ago and $1.13 below what it was one year ago.

The dropping pump prices are the result of the “collapse” of wholesale gasoline prices to their lowest amount since December 2008, said Jeffrey Spring, the corporate communications manager of the Automobile Club of Southern California.

“Drivers should be aggressively shopping for the lowest gas prices to encourage further quick drops at their local stations,” Spring said.

--City News Service

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