Gasoline price drops for 20th day - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Gasoline price drops for 20th day

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County fell Tuesday for the 20th consecutive day, dropping eight-tenths of a cent to $3.855.

The average price is 6.2 cents less than one week ago, 2.9 cents lower than one month ago and 87 cents below the record $4.725 reached one year ago Tuesday in response to concerns about supplies, according to figures from the AAA and Oil Price Information Service.

The average price has dropped 17.8 cents over the past 20 days, including six-tenths of a cent on Monday. The dropping prices were immediately preceded by a 16-day streak of rising prices totaling 18.2 cents.

The falling pump prices are the result of a sharp drop in the price of wholesale gasoline, lower crude oil prices and adequate supply to meet demand, according to Jeffrey Spring of the Automobile Club of Southern California.

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