The average price of a gallon of self-serve regular gasoline in San Diego County dropped Wednesday for the 15th time in 16 days, decreasing nine-tenths of a cent to $4.004, its lowest amount since April 12.
The average price has dropped 9.6 cents over the past 16 days, including eight-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service. It is 4.2 cents less than one week ago and 5.6 cents lower than one month ago but 25.4 cents more than one year ago.
The average price dropped 12 consecutive days, was unchanged Sunday and resumed decreasing on Monday.
The major reason prices continue to decline is “most of Southern California’s refining capacity has returned” following a series of refinery issues that reduced supply, Marie Montgomery of the Automobile Club of Southern California told City News Service.
“Wholesale Los Angeles gasoline prices have dropped 50 cents from their highest point of the year and so far the retail Los Angeles gas price average has only dropped by 10 cents, so there is still a lot of room for prices to drop further,” Montgomery said.
–City News Service
