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21 Days of Falling Gas Prices

The price spike that began early this month seems to be over.

The average price of a gallon of self-serve regular gasoline in San Diego County dropped Monday below what it was before supply issues began a spike to a record high.

The average price decreased Monday for the 21st consecutive day, falling 2.7 cents to $4.164, according to figures from the AAA and Oil Price Information Service.

The average price was $4.178 on Oct. 2, one day before the start of a six-day streak of increases totaling 54.7 cents that pushed the price to a record high of $4.725.

The average price has dropped 56.1 cents over the past 21 days, including 2.9 cents on Sunday. It is 27.3 cents less than one week ago, but 2.9 cents more than one month ago and 31.7 cents higher than one year ago.

The dropping prices reflect a correction of California’s temporary supply issue from refinery problems and an adjustment in demand expectations by wholesale and futures traders, according to Jeffrey Spring of the Automobile Club of Southern California.

-City News Service

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