Another Decrease Extends Run Of Dropping Gas Prices In San Diego

SAN DIEGO COUNTY, CA — Another drop of one-tenth of a cent Monday extended the run of decreases to the average price of a gallon of self-serve regular gasoline in San Diego County to 11 in 14 days.

The average price has dropped 3.8 cents over the past 14 days, including one-tenth of a cent on Sunday, to $4.632, according to figures from the AAA and Oil Price Information Service. It is 1.1 cents less than one week ago but 1.7 cents more than one month ago and $1.472 higher than one year ago.

"We are seeing a downward trend, albeit a slow one," Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager, told City News Service. "As long as oil prices remain around $65 to $70 per barrel, I believe we should see gas prices continue to decline more in coming days."

The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange rose 73 cents to $71.67 Friday. It has dropped 15.33% from its 52-week high of $84.65 hit on Oct. 26.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.

— City News Service