Friday, June 29, 2012
San Diego gas prices have fallen 50 cents a gallon in the past month and the price is going down right before a major summer holiday.
SAN DIEGO Fuel prices are down significantly, at a time of year that they usually go up. The Utility Consumer's Action Network's tracks local price.
The group said the falling price of oil is getting some of the credit for the sharp decline, but that doesn't account for everything.
"Even though the refineries are producing a lot less fuel, people are also using a lot less fuel," said Charles Langley of UCAN. "They are not driving to work, they're not buying things online, that need to be delivered. All those things. I think its had a tremendous effect on the market."
Wholesale gas prices fell so sharply in the past month, that retail prices have yet to catch up.
Pump prices are still falling, even with a projected increase in the number of people traveling during the July 4th holiday week.
State tax collectors said gas consumption dropped for the fifth straight quarter to open 2012.