San Diego gas prices drop for sixth consecutive day - San Diego, California News Station - KFMB Channel 8 - cbs8.com

San Diego gas prices drop for sixth consecutive day

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County dropped 1.7 cents Sunday to $4.65, the sixth consecutive decline following a six-day streak of increases.

The average price has dropped 7.4 cents over the past six days, including 2 cents on Saturday, after rising 54.7 cents over the previous six days to a record high of $4.725, according to figures from the AAA and Oil Price Information Service.

The average price is 6.2 cents less than one week ago, but 50.4 cents more than one month ago and 80.3 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service.

"Significant price drops" are not expected until "after gas stations are able to sell off the expensive fuel they bought" when wholesale prices skyrocketed amid concerns about the adequacy of California fuel supplies following the Oct. 1 power failure at the ExxonMobil Torrance Refinery and the closure of a Chevron pipeline that moves crude oil to Northern California, said

Jeffrey Spring of the Automobile Club of Southern California.

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