19.2 C
San Diego
Tuesday, October 4, 2022

San Diego County Gas Prices Continue to Drop and May Keep Falling

BusinessSan Diego County Gas Prices Continue to Drop and May Keep Falling

A car is shown at a gas station near the San Diego State University campus in 2018.A car is shown at a gas station near the San Diego State University campus. Photo by Megan Wood via inewsource

The average price of a gallon of self-serve regular gasoline in San Diego County dropped Monday for the 33rd consecutive day, decreasing eight-tenths of a cent to $5.878, its lowest amount since May 13.

The average price has decreased 49.5 cents during the streak, including 1.4 cents Sunday, according to figures from the AAA and the Oil Price Information Service. It is 19.4 cents less than one week ago and 47 cents lower than one month ago, but $1.572 more than one year ago.

The streak of decreases follows a run of 19 increases in 20 days totaling 35.5 cents.

“Both oil prices and Los Angeles wholesale gasoline prices have dropped significantly because of concerns about future demand,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager. “If current trends continue, local gas prices are likely to drop even more significantly.”

The national average price dropped for the 34th consecutive day following an 18-day streak of increases, decreasing 1.1 cents to $4.521. It has dropped 49.5 cents over the past 34 days, including 1.6 cents Sunday, after rising 41.5 cents during the 18-day streak of increases.

The national average price is 15.7 cents less than one week ago and 46.8 cents lower than one month ago, but $1.363 more than one year ago.

City News Service contributed to this article.

Check out our other content

Check out other tags:

Most Popular Articles