LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest decrease since April 2, 2020, today, dropping 1.9 cents to $6.038.
The average price has dropped 3.2 cents over the past five days, including 1.2 cents Wednesday, following a 32-day streak of increases totaling $1.283, according to figures from the AAA and Oil Price Information Service. It is seven-tenths of a cent higher than one week ago, $1.152 more than one month ago and $2.089 greater than one year ago.
The Orange County average price recorded its largest decrease since April 8, 2020, dropping 1.8 cents to $5.994. It has dropped 3.3 cents over the past five days, including 1.7 cents Wednesday, following a 35-day streak of increases totaling $1.277.
The Orange County average price is a half-cent higher than one week ago, $1.139 more than one month ago and $2.06 greater than one year ago.
``Los Angeles wholesale gasoline prices have dropped substantially since Friday, although they are still higher than they were a month ago,'' said Marie Montgomery, a public relations specialist with the Automobile Club of Southern California.
``According to Oil Price Information Service, West Coast gasoline traders attributed the drop to the arrival of imported gasoline and gasoline components, easing concerns about supply. We should see further price drops at the pump as long as wholesale prices don't swing upward again.''