Thursday, August 2, 2007
The average price of gallon of gas in San Diego continues to fall. The Utility Consumer's Action Network says their survey of hundreds of local stations put the average price of regular at just a few tenths of a cent over three dollars.
UCAN's Charles Langley says that's down four cents from last week. He says the decline comes while crude oil prices are moving higher.
Langley: If the ratio of the price of oil and the price of gasoline was the same today as it was back on May 9 -- when prices peaked in San Diego at $3.50 a gallon -- our gasoline would probably cost about $3.90 a gallon right now.
Crude prices aren't the only market force that impacts pump prices. The supply coming from the state's oil refineries appears to have the most direct impact on the cost of gas. Right now there's plenty of gas being made and that's likely pushing consumer prices down.