Average gasoline prices on Tuesday in San Diego County are $5.34, down $1.033 since its record peak at $6.373 on June 15, according to figures from the AAA and the Oil Price Information Service.  

Gas prices in the region have been steadily declining, matching trends across the country since the nation hit its record $5.01 on June 14. The average price of a gallon of self-serve regular gasoline in San Diego County dropped today for the 61st time in 62 days since rising to its record point. 

The cost of regular self-serve gasoline in the region is 6.4 cents less than one week ago and 56 cents lower than one month ago, but 98.1 cents more than one year ago. The average price dropped for 59 consecutive days, rose one-tenth of a cent Sunday, and resumed declining Monday.

The national average price dropped for the 63rd consecutive day since rising to a record, decreasing seven-tenths of a cent to $3.949. It has dropped $1.067 since it surged to a record $5.016 on June 14.

“Falling pump prices may eventually lead to more drivers hitting the road again,” said Andrew Gross, AAA spokesperson. “But that hasn’t happened yet. Instead, many drivers are waiting for prices to fall further before reverting to their typical driving habits.”

A recent survey conducted by the AAA found that almost two-thirds of U.S. Adults have changed their driving habits or lifestyles since March. The company found the two habits people changed to offset the surging price of gasoline are driving less and combining errands. 

Although the national average is 8.4 cents less than one week ago and 59.9 cents lower than one month ago, it is 76.2 cents more than one year ago.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,'' said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better than expected jobs report last week likely means less demand destruction than anticipated.''

Leave a comment

Your email address will not be published. Required fields are marked *