Palm Springs gas prices hit lowest levels since February
The average price of a gallon of self-serve regular gasoline in the Inland Empire and Palm Springs desert resort communities fell to its lowest level since Feb. 16, dropping 1.1 cents on Tuesday to $3.934.
The average price in Riverside and San Bernardino counties has dropped for 29 consecutive days and 32 of the past 33, and is 14.3 cents less than one week ago and 42 cents below one month ago, according to figures from the AAA and Oil Price Information Service.
However, the average price is 5.8 cents more than one year ago.
The decreasing pump prices are the result of lower crude oil prices caused by soft demand and economic concerns in the United States and abroad, according to Jeffrey Spring of the Automobile Club of Southern California.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
