LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County remained unchanged today at $4.675.
The average price is one-tenth of a cent less than one week ago and 3.7 cents lower than one month ago, but $1.46 more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped 4.1 cents since hitting the record high of $4.716 on Nov. 27.
The Orange County average price increased one-tenth of a cent for the third consecutive day, to $4.64. It is four-tenths of a cent less than one week ago and 4.9 cents lower than one month ago, but $1.44 higher than one year ago. The Orange County average price has dropped 4.9 cents since moving within one- tenth of its record high Nov. 26.
The average prices have dropped from their highs for the year because of lower demand and reduced oil prices.
Despite an increase of $1.03 in the most recent trading session Thursday to $73.79, the price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has dropped 12.8% from its 52-week high of $84.65 hit on Oct. 26.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.