LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped three-tenths of a cent today to $3.562, one day after decreasing two-tenths of a cent.
The average price is 1.1 cents less than one week ago and 3.5 cents lower than one month ago but 20.8 cents more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped 5.3 cents since the start of the year.
The Orange County average price dropped three-tenths of a cent to $3.513, one day after decreasing two-tenths of a cent. It is a half-cent less than one week ago and 2.9 cents lower than one month ago but 20.5 cents more than one year ago. The Orange County average price has dropped 3.2 cents since the start of the year.
The fire at the Marathon Petroleum Refinery in Carson this week “certainly has the potential to create a major supply issue in Southern California depending on the extent of the damage and how long it takes to repair the affected units,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“However, oil prices are dropping dramatically this week in anticipation that gasoline demand will drop worldwide because of the COVID-19 (virus) and that trend may help to counteract upward pressure on prices from the fire,” Spring said.
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