Wednesday, December 12, 2007
San Diego gas prices are down nearly seven cents a gallon in the last week. The Utility Consumer's Action Network tracks prices at local gas stations. UCAN's Charles Langley says the average price is now $3.30 a gallon. He says that's cheaper than last week, but nearly 75 cents a gallon higher than last year.
Langley says the high fuel prices will likely be felt in the rest of the economy.
Langley : Over the long haul this is a real drain on the economy. People will spend less if their fuel bills increase by 30 or 40 percent and they're commuting a long distance and the money goes into fuel instead of directly into retailer's pockets, especially this time of year.
Langley says prices will probably continue to ease down as the international price of oil declines.