Gas pump
Gas pump. Photo credit: Alexander Nguyen

Falling world oil prices have led to a 15-cent drop in local gas prices — more than compensating for the 12-cent gas tax increase that was the focus of a contentious ballot measure.

Global oil prices are down more than 20 percent from their peak in October thanks to record crude production from the United States and Russia.

The average price of a gallon of self-serve regular gasoline in San Diego County dropped Wednesday for ninth consecutive day and 21st time in 22 days, decreasing 1 cent to $3.687, its lowest amount since Sept. 26.

The average price has dropped 15.1 cents over the past 22 days, including seven-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service.

The average price is 6.9 cents less than one week ago and 15.5 cents lower than one month ago but still 41.5 cents more than one year ago.

Proposition 6, which would have repealed Senate Bill 1 that increased the gas tax to pay for road repairs across the state, was defeated 56.5 percent to 43.5 percent on Nov. 6.

— From Staff and Wire Reports

Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.