SAN DIEGO – The average price of self-serve regular gasoline fell an unusually large 3 cents per gallon in San Diego County Thursday, the 45th consecutive daily drop.
The average stood Thursday morning at $3.923, the Oil Price Information Service reported. That was 49.7 cents lower than at this time last month and 70.7 cents lower than the record high of $4.63 set June 19, but $1.068 higher than at this time last year.
The declining price stems from lower demand at the pump and declining crude oil prices, said Automobile Club of Southern California spokesman Jeffrey Spring.
Crude oil costs account for 67 percent to 75 percent of the cost of a gallon of gasoline, according to Tupper Hull, director of strategic communications for the Western States Petroleum Association, a trade association representing major oil companies in six Western states.