Gas prices fall, easing fears that refinery fire could lead to spike

The average price of a gallon of self-serve regular gasoline in San Diego County dropped a half-cent Saturday to $4.778.

That’s 1 cent more than a week ago, 4 cents more than a month ago and 11.8 cents more than a year ago, according to figures from the AAA and the Oil Price Information Service.

Experts have indicated that the recent fire at Chevron’s El Segundo oil refinery, the state’s second largest, may not have the effect on Southern California gas prices that some initially feared.

“According to Oil Price Information Service and the California Energy Commission, gasoline inventories are higher than they were at this time a year ago, and supply has not yet been impacted by the El Segundo refinery fire,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.

“Also according to OPIS, Chevron filed a report with the state indicating the fire mainly damaged a unit that processes jet fuel. A Chevron spokesperson also stated they would be making `operational adjustments’ to resume refinery production to meet fuel demand.”

The national average price dropped for the ninth time in 10 days, decreasing 1.1 cents to $3.089. It is 5.1 cents less than a week ago, 10.5 cents less than a month ago and 11.9 cents less a year ago.