Thursday, October 25, 2012
The average price of gasoline continues to retreat from the record high price set just a few weeks ago and some gas stations are already selling fuel for less than $4 a gallon.
SAN DIEGO The average price of gasoline continues to retreat from the record high price set just a few weeks ago. Several filling stations in San Diego's north county region are selling gas for $3.99 a gallon.
Industry watchers said the number of gas stations doing that should swell in coming days. The Automobile Club of Southern California said wholesale gas prices are down a dollar a gallon in the past three weeks. Retail prices have only dipped just over 40 cents a gallon since then.
Lower prices at some stations will force others to move in that direction.
"We're seeing in some of the mom and pop's and some of the off-brand stations like Costco, prices are coming down much more quickly. And so I think that more of a reflection where prices will be for most gas stations, eventually," said Jeffery Spring of AAA.
San Diego County's gas price has fallen more than 25 cents a gallon in the past week, according to the Auto Club fuel survey.
The price peaked at $4.69 on October 8.
California drivers are currently paying the highest gas prices in the nation.