LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped a half-cent today to $4.079, its sixth consecutive decrease.
The average price is 4.9 cents less than one week ago, 15.9 cents lower than one month ago, but 33.6 cents more than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price dropped seven-tenths of a cent to $4.028, its seventh consecutive decrease. It is 6 cents less than a week ago, 17.7 cents lower than one month ago, but 34.2 cents more than a year ago.
“Based on some substantial drops in Los Angeles wholesale prices over the past few days, we would expect retail gas prices to resume dropping as they had been in the last couple weeks of October,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Oil industry analysts are predicting some significant price drops in December as well based on lower production costs for local refineries.”
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