Business & Tech

Getting Easier to Find $4-a-Gallon Gas

Saturday is the 28th consecutive day that the price of gasoline has fallen.

The average price of gasoline in San Diego County dropped below $4 a gallon for the first time since March 25 Saturday, dropping 1 cent to $3.995.

It was the 28th consecutive day the price went down, which is 4.6 cents below what it was a week ago and 26.6 cents less than a month ago, according to figures from the AAA and Oil Price Information Service.

However, the price is 98.6 cents higher than a year ago.

Find out what's happening in Encinitasfor free with the latest updates from Patch.

The average price has fallen 28.4 cents during the streak that began May 7, including seven-tenths of a cent on Thursday. It had risen eight consecutive days before the streak of decreases began.

Analysts credit the decreases to the declining cost of crude oil. The price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has fallen 12 percent to $100.22 since reaching a two-year high of $113.93 on April 29.

Find out what's happening in Encinitasfor free with the latest updates from Patch.

Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.

City News Service contributed to this report.

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