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San Diego Gas Prices Slide Down as Summer Wears On

Aired 6/29/12 on KPBS News.

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.

— 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.

San Diego Gas Prices Slide Down as Summer Wears On
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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.

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