LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the ninth consecutive day, decreasing 1.2 cents to $4.051, its lowest amount since Sept. 28.
The average price has dropped 7.8 cents over the past nine days, including eight-tenths of a cent on both Tuesday and Wednesday, according to figures from the AAA and Oil Price Information Service. It is 6.8 cents less than one week ago and 18.3 cents lower than a month ago but 34.5 cents more than one year ago. The average price has risen 70.2 cents since the start of the year.
The Orange County average price dropped under $4 today for the first time since Sept 27, decreasing 1.8 cents to $3.993. It has dropped 10 consecutive days, decreasing 9.5 cents, including eight-tenths of a cent on Wednesday.
The Orange County average price is 8.1 cents less than a week ago and 20.4 cents lower than one month ago but 34.1 cents more than a year ago. It has increased 64.4 cents since the start of the year.
The average prices are dropping “because it is the lowest demand period and stations are selling fuel that is cheaper to produce,” said Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, referring to winter blend gasoline.
“As long as no further supply concerns arise, we would expect prices to continue declining through the Thanksgiving holiday and the end of the year.”
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