LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 11th consecutive day, decreasing four-tenths of a cent to $3.734.
The average price has dropped 2.7 cents over the past 11 days, including a half-cent on Thursday, according to figures from the AAA and Oil Price Information Service. The streak of decreases is the longest since a 27- day streak from Nov. 25-Dec. 21.
The average price is 1.9 cents less than one week ago and 1.1 cents lower than one month ago but 72.3 cents higher than one year ago. It has risen 58.4 cents since the start of the year.
The Orange County average price dropped today for the 12th time in 13 days, decreasing two-tenths of a cent to $3.693. It has dropped 3.3 cents over the past 13 days, including four-tenths of a cent on both Wednesday and Thursday.
The Orange County average price dropped six consecutive days, was unchanged Saturday, then resumed dropping on Sunday.
The Orange County average price is 1.6 cents less than one week ago and 1.4 cents lower than one month ago but 70.5 cents higher than one year ago. It has risen 57.7 cents since the start of the year.
``Oil industry analysts are now saying that lower than-expected gasoline demand in California this summer, coupled with excess supply, could drive down prices in coming weeks,'' said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.