| Inland Empire gas prices drop |
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| SIGNONSANDIEGO NEWS SERVICES 3:13 a.m. September 8, 2006 RIVERSIDE – Inland Empire gasoline prices dropped significantly for the third consecutive week, the Automobile Club of Southern California reported Friday, amid dropping crude oil prices and sufficient supplies. The average price of a gallon of self-serve regular gasoline in the Riverside-San Bernardino area stood at $3.062 Friday morning – 7.5 cents less than last week and 19 cents less than last month but 3 cents more than at this time last year, according to the Auto Club. “We are finally seeing some real relief for motorists from the record price levels we were paying in May,” Auto Club spokeswoman Carol Thorp said. “While more and more stations are charging less than $3 a gallon, it would require about four straight months of similar price drops to see Southern California pump prices below $2.”The average price has declined seven of the past eight weeks, falling seven-tenths of a cent from July 14-21, 1.4 cents from July 21-28, 2.1 cents from July 28-Aug. 4, 1.6 cents from Aug. 4-11, 5.6 cents from Aug. 18-25 and 6.8 cents from Aug. 25-Sept. 1. The average price rose six-tenths of a cent from Aug. 11-18. In Orange County, the average price was $2.996 Friday morning, 7.8 cents less than last week. The Orange County average price has declined seven of the past eight weeks, falling 1.8 cents from July 14-21, 1.4 cents from July 21-28, 2 cents from July 28-Aug. 4, 2.2 cents from Aug. 4-11, 5 cents from Aug. 18-25 and 7.4 cents from Aug. 25-Sept. 1. The average price rose 1 cent from Aug. 11-18. Crude oil for October delivery closed down 18 cents to $67.32 a barrel on the New York Mercantile Exchange yesterday after falling to $66.76 earlier in the day, the lowest since March 27. The crude oil costs make up about 50 percent of the cost of a gallon of gasoline, according to the Energy Information Agency. |
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