Gas prices about to make a U-turn and increase - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Gas prices about to make a U-turn and increase

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SAN DIEGO (CNS) - A streak of 32 consecutive decreases and price declines on 90 out of 91 days, which sent the average price of a gallon of self-serve regular gasoline in San Diego County to its lowest amount since May 21, 2009, ended on Friday when it rose four-tenths of a cent to $2.623.

The increase comes one day after gasoline began being covered under the Cap-and-Trade Program which requires fuel suppliers to reduce greenhouse gas emissions by supplying low-carbon fuels or purchasing pollution permits to cover the greenhouse gases produced when the conventional petroleum-based fuel they supply is burned.

The price dropped $1.084 over the previous 91 days, including nine-tenths of a cent on Thursday, according to figures from the AAA and Oil Price Information Service.

Despite today's increase, the average price is 5.6 cents less than one week ago, 43.5 cents lower than one month ago and $1.068 below what it was one year ago.

The Cap-and-Trade Program is among the provisions of the Global Warming Solutions Act of 2006, approved by the Legislature and signed into law by then-Gov. Arnold Schwarzenegger.

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