California

Gasoline prices drop

An increase in the worldwide supply of crude oil contributed to the dip in U.S. prices at the gas pump over the last two weeks, an industry analyst said Sunday.

Between Oct. 22 and Friday, the combined national average price for all grades of gasoline dropped to $2.04, down 2.6 cents from the previous two weeks, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations across the country.

The biggest seller, self-serve regular, had an average national price of $2.01 per gallon, down 3 cents. Mid-grade was $2.11 a gallon, down 12 cents, while premium was $2.21 per gallon, down 7 cents.

Of the cities surveyed, San Diego again led the nation in pump prices, with the average price for a gallon of self-serve regular at $2.40.

California

Investor confidence boosts Pixar shares

Pixar Animation Studios got great reviews from movie critics for its newest release, “The Incredibles.” But the company was perhaps even more pleased by the word on Wall Street: Buy.

Shares of the Emeryville studio hit a record high Friday, rising $3.59 to $84.45 on the New York Stock Exchange. Among other things, investors were banking on a huge debut this weekend for “The Incredibles,” making it the sixth consecutive blockbuster for the animation studio headed by Apple Computer Inc. founder Steve Jobs.

“The Incredibles” was No. 1 at the weekend box office, earning an estimated $70.7 million, according to according to Exhibitor Relations Co.