LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped two-tenths of a cent today to $3.601, one day after decreasing one-tenth of a cent.
The average price has dropped 16 consecutive days, decreasing 9.9 cents, according to figures from the AAA and Oil Price Information Service. It is 4.3 cents less than one week ago, 16.4 cents lower than one month ago and 1.5 cents below what it was one year ago despite rising 21 cents since the start of the year.
The Orange County average price dropped two-tenths of a cent to $3.578, one day after decreasing three-tenths of a cent. It has dropped 17 times in 18 days, decreasing 9.6 cents.
The Orange County average price is 3.9 cents less than one week ago and 14 cents lower than one month ago, but 2.9 cents more than one year ago. It has increased 22.9 cents since the start of the year.
“The California Energy Commission reported (Wednesday) that local refineries have cut back California-blend gasoline production and are dipping into their inventories to meet demand,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager. “We'll see in the next week if that action slows down price decreases at the pump.”
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