San Diego gas prices slightly down in December - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego gas prices slightly down in December

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County dropped nine-tenths of a cent today, and is now down slightly from its two-year high point set Saturday.

The average price for one gallon of unleaded self-serve in San Diego County was $3.257 today, according to figures gathered by the AAA and Oil Price Information Service. That is 5.8 cents more than a week ago, 12.6 cents more than a month ago and 34.1 cents more than this time last year.

The highest prices in more than two years were the result of rising crude oil prices, according to analysts, who cited the weaker dollar as the key reason for the oil price increases.

The price of a barrel of benchmark crude on the New York Mercantile Exchange rose to $90 for the first time since October 2008 Tuesday, then began falling, closing at $87.79 Friday.

Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull, vice president of strategic communications for the Western States Petroleum Association, a trade association representing oil companies in six western states.

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