The average price of a gallon of self-serve unleaded gasoline in the Inland Empire fell 2.3 cents today, the 35th consecutive daily decline and 101st in the past 104 days.
The average price of $3.265 in Riverside and San Bernardino counties is 43.3 cents less than at this time last month and $1.349 less than the record high of $4.614 set on June 22, but 15.3 cents more than at this time last year, the Oil Price Information Service reported.
The average price has dropped 49.6 cents over the past 35 days, including 3.3 cents from Saturday to Sunday.
The dropping price is a result of lower demand, a steady decline in crude oil prices, stemming in part from the worldwide economic downturn, and reduced speculation by futures traders, Automobile Club of Southern California spokesman Jeffrey Spring told City News Service. The average price has fallen to its level of late February when significant increases began because of the rising cost of oil.
