San Diego County gas prices fall for the 37th consec. day, lowes - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego County gas prices fall for the 37th consec. day, lowest since March

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County fell Sunday for the 37th consecutive day, decreasing a half-cent to $3.931, the lowest since March 7.

The average price is 4.7 cents less than one week ago and 31.6 cents lower than one month ago but 85.9 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service.

The average price has fallen 34.8 cents during the streak that began May 7, including six-tenths of a cent on Saturday. It had risen eight consecutive days and 32 of 36 before the streak of decreases began.

Analysts credit the decreases to the declining cost of crude oil. The price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has fallen 12.8 percent to $99.29 since reaching a two-year high of $113.93 on April 29.

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

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