Gas prices drop once more
By: EDMOND JACOBY - Staff Writer | ∞
NORTH COUNTY ---- The average price of a gallon of regular gasoline in North County fell 4 cents again this week to $2.40.
The price decline was welcomed by consumer advocate Charles Langley, who conducts a weekly survey of gasoline prices in North County for the North County Times. During the same week last year, Langley said, gas prices rose 4 cents.
The average price at unbranded stations was nearly a dime lower than the brand-name average, leading Langley to comment that the competitive pricing by independent dealers may produce continued price declines through the Memorial Day weekend.
"The refining industry does not like this sort of cost-cutting, so I would not be surprised to see some sort of a refinery or supply problem in the next week or two," Langley said.
Crude oil prices were strengthening late in the week, with light sweet crude settling above $51 once again on the New York Mercantile Exchange. Gasoline futures, however, continued to drop.
Two tankers owned and operated by BP Oil & Shipping Co. were taken out of service in Alaska following the discovery of large cracks in their rudders. The ships, built in San Diego, haul oil from Alaska to West Coast refineries. The Alaskan Explorer already has been returned to service, but the status of the Alaskan Frontier has not been announced.
A reduction in the transportation capacity between Alaska and the West Coast, if it persists for any time, could be enough to trigger a speculative rise in wholesale gasoline prices.
In North County, the cheapest gas Thursday was $2.25 at Golden State in Escondido. At one penny more, Mohsen's two Oceanside stations sold the cheapest gas on the coast. The average price at the 50 cheapest stations in North County was $2.31.
Contact staff writer Edmond Jacoby at (760) 739-6675 or ejacoby@nctimes.com.
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