The average price of a gallon of self-serve regular gasoline in San Diego County dropped Tuesday for the eighth consecutive day and 11th time in 12 days, decreasing six-tenths of a cent to $5.309.
The average price has dropped 5 cents over the past 12 days, including one-tenth of a cent Monday, according to figures from the AAA and Oil Price Information Service. It dropped three consecutive days, was unchanged April 29 and resumed decreasing the following day.
The average price is 4.2 cents less than one week ago but 1.5 cents more than one month ago and 46 cents higher than one year ago. It has dropped $1.126 since rising to a record $6.435 on Oct. 5, 2022.
The national average price dropped for the fifth consecutive day, decreasing 1.1 cent to $3.64. It has dropped 3.1 cents over the past five days, including two-tenths of a cent Monday, after back-to-back increases totaling 1.4 cents.
The national average price is 1.7 cents less than one week ago, but 4.7 cents more than one month ago and 10 cents higher than one year ago. It has dropped $1.376 since rising to a record $5.016 on June 14, 2022.
“We’ve seen the national average fade slightly again as oil prices have cooled and our spring peak appears to be more confidently behind us,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“While refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week. In addition, a weaker-than-expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which is just a few weeks from beginning,” De Haan said.
“With the seasonal factors behind us, looking ahead, we expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend.”
City News Service contributed to this article.