Gas Prices Drop, Potentially Due to Lower Demand

The average price of a gallon of self-serve regular gasoline in San Diego County dropped 1 cent today to $4.795.

The average price is 3 cents less than one year ago, 6.1 cents less than one month ago and 15.7 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.64 since rising to a record $6.435 on Oct. 5, 2022.

The national average price dropped 1 cent to $3.528. It is 1.9 cents more than one week ago and 6.8 cents more than one month ago, but 2.7 cents less than one year ago. The national average price has dropped $1.488 since rising to a record $5.016 on June 14, 2022.

“The damage from (Hurricane) Beryl caused limited damage to Gulf Coast energy facilities,” said Andrew Gross, an AAA national public relations manager. “And while a record 60 million travelers were forecast to hit the highways for the July 4 holiday, the overall demand number for gasoline dropped. That is a rare feat for a holiday week and may point to a change in demand trends.”