Gas Price Decline Continues
Friday, November 3, 2006
Gas prices in Southern California continue to fall from their record highs back in May. The Automobile Club says gas prices have dropped every week for the past three months. KPBS Reporter Ed Joyce has more.
The Auto Club says continued weekly declines have pushed the average price of a gallon of self-serve regular gasoline in San Diego County to a dollar less than May's record high. The Auto Club’s Jeff Spring says the price drop is so dramatic because they had a long way to fall.
Spring: We may be near the bottom end of the decline. We’re not quite sure yet. I mean ‘cause typically prices would continue dropping until the end of November or so. In the last year or so, it’s been anything but typical. So if there’s some hint of some problem somewhere in the world that could be enough to push prices up on the wholesale level and we’d eventually feel that on the retail level too.
The recent declines means drivers are paying $10-to-20 less when they fill up their tanks. The average price this week in San Diego was $2.40 for a gallon of regular gas. Ed Joyce, KPBS News.