SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County dropped one-tenth of a cent Tuesday to $4.631, its lowest amount since Feb. 7.
The average price has decreased for eight consecutive days and is 4.9 cents less than one week ago, 11.1 cents less than one month ago and 19.9 cents less than one year ago, according to figures from AAA and the Oil Price Information Service.
It has dropped $1.803 since rising to a record $6.434 on Oct. 5, 2022.
California's prices could soon be rising again, however, as new state fees and taxes went into effect Tuesday. Senate Minority Leader Brian Jones, R- San Diego, warned residents to prepare for the impact of a higher state gas tax and the Low Carbon Fuel Standard regulations taking effect.
"Californians need to be ready," Jones said. "Start saving now and brace for sticker shock at the pump. With these new state-imposed costs, fuel prices are expected to spike unpredictably throughout the summer and the foreseeable future. People need to prepare."
The national average price dropped for the sixth consecutive day following a run of 14 increases in 15 days, decreasing seven-tenths of a cent to $3.178.
The national average price is 4.6 cents less than one week ago, 3.5 cents more than one month ago, and 31.3 cents less than one year ago. It has dropped $1.838 since rising to a record $5.016 on June 14, 2022.
"The national average price of gasoline has resumed its decline, with falling prices driven by easing tensions in the Middle East -- just weeks after those same tensions had pushed prices higher," Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement.
"For motorists planning to hit the road for Independence Day, gas prices are expected to continue falling nearly coast to coast in the lead-up to July 4. Relief could expand as the holiday weekend approaches, with the national average on track to hit its lowest July 4 level since 2021 at $3.15 per gallon, we project.
"As long as tensions in the Middle East remain contained and the U.S. avoids a major hurricane, we could see the national average fall below $3 per gallon later this summer."
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