Tuesday, October 9, 2012
San Diego gas prices continue to live in record territory today, but perhaps not for long. Fuel analysts think the price surge may be abating.
SAN DIEGO Gas prices have never been this high in San Diego County.
The Oil Price Information Service and AAA say the average price of a gallon of regular in San Diego County cost just over $4.72 on Monday afternoon. It was the third day in a row that retail prices hit a new record high.
But there are signs the surge is starting to ease. Wholesale prices were down sharply on Monday afternoon.
"The wholesale reduction is already in effect, but there's a lag time," said petroleum analyst Gregg Laskoski of GasBuddy.com. "Just because wholesale prices go down, doesn't mean you're going to see an immediate decrease in the price at the pump. There's sometimes two or three days before people can see that."
On Sunday, Governor Jerry Brown ordered California regulators allow winter blended fuel to be sold. Stations typically have to wait until the end of the month to sell winter blended fuel, which evaporates more quickly than its summer blended counterpart, making it a more potent source of air pollution.
Air quality officials do not expect the decision to have an effect on air quality, unless there is a heatwave between now and the end of the month.