LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped four-tenths of a cent today to $3.604, one day after decreasing one-tenth of a cent.
The average price is one-tenth of a cent less than one week ago, 11.2 cents lower than one month ago, and 29 cents more than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price fell one-tenth of a cent to $3.553, one day after increasing two-tenths of a cent. It is 1.9 cents more than one week ago, 7.7 cents lower than one month ago, and 27.8 cents more than one year ago.
“Los Angeles wholesale gasoline prices increased earlier this week on news of unplanned flaring at the Marathon refinery in Carson and subsequent refinery purchases of fuel in the spot market,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“However, wholesale prices have backed off a bit (Thursday), and the Energy Information Administration reported Wednesday that West Coast gasoline inventories have grown, so it's unclear whether gas price declines are really over for this month. Currently, the incidents between the U.S. and Iran have not affected prices in this region, even though much of the crude oil purchased by California refineries comes from the Middle East.”
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