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UPDATE: Gas Prices Continue To Drop

The average price has decreased 53.8 cents over the past 21 days, including 3.5 cents on Sunday.

UPDATED AT 10:22 a.m.: The average price of a gallon of self-serve regular gasoline in the Inland Empire today dropped below what it was before supply issues began a spike to a record high.

The average price in Riverside and San Bernardino counties decreased today for the 21st consecutive day, falling 2.4 cents to $4.15, according to figures from the AAA and Oil Price Information Service.

The average price was $4.164 on Oct. 2, one day before the start of a six-day streak of increases totaling 52.4 cents that pushed the price to a record high of $4.688.

The average price has decreased 53.8 cents over the past 21 days, including 3.5 cents on Sunday. It is 30.2 cents less than one week ago but 2.3 cents more than one month ago and 31.1 cents higher than one year ago.

The dropping prices reflect a correction of California's temporary supply issue from refinery problems and an adjustment in demand expectations by wholesale and futures traders, according to Jeffrey Spring of the Automobile Club of Southern California.

 

ORIGINAL POST: The average price of a gallon of self-serve regular gasoline in the Inland Empire decreased Sunday for the 20th consecutive day, falling 3.5 cents to $4.174, one day after dropping 5.2 cents.

The average price in Riverside and San Bernardino counties has declined 51.4 cents over the past 20 days after rising 52.4 cents over the previous six days to a record high of $4.688, according to figures from the AAA and Oil Price Information Service.

The average price is 29.5 cents less than one week ago but 6.7 cents more than one month ago and 33.5 cents higher than one year ago.

The dropping prices reflect a correction of California's temporary supply issue from refinery problems and an adjustment in demand expectations by wholesale and futures traders, according to Jeffrey Spring of the Automobile Club of Southern California.

Balance October 31, 2012 at 06:47 AM
Obama is already doing this.
The Republican October 31, 2012 at 07:10 AM
Oh bullcrap...All the new drilling is on PRIVATE land. Obama has closed off public land and leases to drilling This is undisputable fact and even Obama could not fake this reality in the debates
The Republican October 31, 2012 at 07:13 AM
Obama even said that if we drilled everywhere in the US we would still not produce enough of our own oil which is beyond idiotic since we have more oil here than any other nation on Earth. We just have moronic Libtards that put up artificial barriers that stops oil companies from producing and refining.
Balance October 31, 2012 at 07:17 AM
Not true.
LBV Collins October 31, 2012 at 04:04 PM
Hi Roberto. A couple of points: 1. The Keystone Pipeline is a dead issue politically. I haven't heard Republicans campaigning on this issue for months. 2. To me, it's silly to imply that if the expansion of the Keystone Pipeline had been allowed, there never would have been a pipeline built to China. Canada will build as many pipelines as it can, in every direction possible, to get their product to countries in need. The truth is, both pipelines are in demand, and both are likely to be built. [1] Nonetheless, as I mentioned above, America has the ability to produce its own supply of energy, all from drilling on U.S. land. [2] I really, REALLY prefer that we produce our own energy resources because I don't want our Nation... and our kids... relying on energy sources imported from any where else... including Canada. 1. http://shar.es/c9HhY 2. http://lakeelsinore-wildomar.patch.com/articles/gas-prices-continue-to-drop-cd09cd5a#comment_5257854

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