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San Diego Gas Prices Floating Down

Aired 10/26/12 on KPBS News.

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.

— 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.

Gas Price at Carlsbad Gas Station
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Above: Gas Price at Carlsbad Gas Station

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.

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