End of a 6-day price drop streak


SAN DIEGO (CNS) – A six-day streak of the average price per gallon of self-service regular gasoline in San Diego County, totaling 2.9 cents, ended on Monday when it rose by two tenths of a cent to $ 4.643.

The streak began a day after the end of a 19-day streak of increases totaling 12.5 cents that pushed the average price up to its highest level since Oct. 12, 2012, according to AAA figures and the petroleum price information service.

The average price is 2.7 cents lower than a week ago, but 9.8 cents higher than a month ago and $ 1.486 higher than a year ago.

The drop in prices at the pump is the result of a significant drop in the price of crude oil and “because this is traditionally the time of year when demand is lowest,” said Jeffrey Spring, head of Automobile Club of Southern California corporate communications.

The price of a barrel of West Texas midsize crude on the New York Mercantile Exchange has fallen 21.72% from its 52-week high of $ 84.65 reached on Oct. 26, 2021, at 66.26 $ Friday.

Crude oil costs are just over half the price at the pump, according to the US Energy Information Administration.

Copyright 2021, City News Service, Inc.

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