Southland Gas Prices Drop Slightly

posted by City News Service -

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 $3.672 after rising eight-tenths of a cent the previous two days.

The average price is one-tenth of a cent more than one week ago and 75.5 cents higher than one year ago but 7.1 cents less than one month ago, according to figures from the AAA and Oil Price Information Service. It has risen 52.2 cents since the start of the year.

The Orange County average price dropped two-tenths of a cent to $3.614, one day after rising two-tenths of a cent. It is two-tenths of a cent less than one week ago and 8.5 cents lower than one month ago but 73.6 cents higher than one year ago. It has risen 49.8 cents since the start of the year.

“Los Angeles wholesale gasoline prices have fluctuated within a 20- cent price gap since June 1 and haven't given much downward momentum to pump prices for nearly two weeks,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.

“However, Oil Price Information Service reported (Thursday) that according to the California Energy Commission, the state's gasoline stockpiles have significantly increased in the past week. That may lead to retail price decreases provided no other factors counteract that healthy supply.”

Photo: Getty Images

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