Gas prices drop to lowest level in nearly four years

SAN DIEGO (CNS) – The average price of a gallon of self-serve regular gasoline in San Diego County dropped Thursday to its lowest amount since Dec. 21, 2010, decreasing 1.5 cents to $3.276.

The average price has dropped 35 consecutive days and 61 of the past 62, decreasing 54.6 cents over that span, including 1.3 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.

The average price is 8.6 cents less than one week ago, 41.3 cents lower than one month ago and 40.3 cents below what it was one year ago.

“Falling oil prices are the main reason” for the dropping gasoline prices followed by “a bit of a sell-off of the summer blend of gasoline,” Marie Montgomery of the Automobile Club of Southern California told City News Service.

“The only question is whether refineries will adjust their production to tighten supply locally, which could slow or stop the price decline,” Montgomery said.

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