Average Los Angeles County Gas Price Drops 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 three-tenths of a cent today to $3.635, one day after decreasing two-tenths of a cent.

The average price is seven-tenths of a cent less than one week ago and 3.3 cents lower than one month ago but 64.9 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service. It has risen 48.5 cents since the start of the year.

The Orange County average price dropped one-tenth of a cent today to $3.574, one day after decreasing a half-cent. It is nine-tenths of a cent less than one week ago and 3.6 cents lower than one month ago but 61.5 cents higher than one year ago.

The Orange County average price has risen 45.8 cents since the start of the year.

"Los Angeles wholesale gasoline prices took a sharp downward turn Wednesday as the gasoline futures market dipped due to investor worries of lower demand and ample supply in coming months,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager. ``It's not yet a trend, but if it continues, local motorists could finally see some relief at the pump.”

Photo: Getty Images

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