LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the eighth consecutive day and 15th time in 16 days, decreasing nine-tenths of a cent to $3.735.
The average price has dropped 7.4 cents over the past 16 days, including 1 cent on Friday, according to figures from the AAA and Oil Price Information Service. It is 4.4 cents less than one week ago and 1.9 cents lower than one month ago, but 9.2 cents higher than one year ago.
The Orange County average price dropped for the 15th time in 17 days, decreasing eight-tenths of a cent to $3.695. It has dropped 6.4 cents over the past 17 days, including eight-tenths of a cent on Friday. The Orange County average price is 3.4 cents less than one week ago and nine-tenths of a cent lower than one month ago, but 11.1 cents more than one year ago.
“There are reports of ample supply in the Southern California fuel market, which should continue to push down prices in the near future,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Oil prices have also dropped recently and if that trend continues, it could help reduce prices at the pump.”
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