Southland Gas Prices Drop For Sixth Straight Day

ExxonMobile Posts Record Breaking Quarterly Profit

LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent today to $3.585, its sixth consecutive decrease.

The average price is 1.4 cents lower than one week ago and 2.8 cents less than one month ago, but 30 cents more than one year ago, and is the lowest it's been since Aug. 29, according to figures from the AAA and Oil Price Information Service.

The Orange County average price also dropped for the sixth consecutive day, falling a half-cent to $3.529. It is 1.7 cents less than one week ago, 1.2 cents less than one month ago, but 25.9 cents higher than one year ago.

“While concerns about the coronavirus are pushing down demand for oil and gasoline nationwide, locally our gas prices are more affected by the performance of our refineries,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.

“Once gas stations start selling the more expensive summer blend of gasoline, which will happen over the next couple of weeks, we could see price increases that reflect both the increased production costs and the constrained supply if these unplanned refinery issues aren't quickly resolved.”

Photo: Getty Images

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