San Diego gasoline price falls -- but barely - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego gasoline price falls -- but barely

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SAN DIEGO (CNS) - The streak of daily drops in the price of gasoline extended to 15 days in San Diego County Thursday -- but barely.

The average price of a gallon of self-serve regular gasoline in San Diego County fell one-tenth of a cent to $3.719, the lowest amount since Feb. 26.

The average price is 4.1 cents less than one week ago and 8.6 cents lower than a month ago, according to figures from the AAA and Oil Price Information Service. However, it is 57.8 cents higher than a year ago.

The streak of declining pump prices is threatened by the rising price of crude oil. Since settling at $79.30 Aug. 9, the lowest since Sept. 29, the price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has risen $8.28 to $87.58, including a 93-cent increase Wednesday.

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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