LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today to its lowest amount since March 20, decreasing eight-tenths of a cent to $3.421.
The average price has dropped 15 consecutive days and 18 of the past 19, decreasing 14.6 cents, including eight-tenths of a cent on Sunday, according to figures from the AAA and Oil Price Information Service.
The average price is 8.9 cents less than week ago and 15.2 cents lower than one month ago but 4.9 cents more than one year ago. It has dropped 19.4 cents since the start of the year.
The Orange County average price also dropped to its lowest amount since March 20, decreasing eight-tenths of a cent to $3.362. It has dropped 20 consecutive days, decreasing 15.7 cents, including 1.2 cents on Sunday.
The Orange County average price is 10.6 cents less than one week ago and 16 cents lower than one month ago but 3.9 cents more than one year ago. It has dropped 18.3 cents since the start of the year.
The decreasing pump prices are the result of lower oil prices stemming from increased production by Russia and Saudi Arabia boosting the supply and a decline in demand as motorists reduce driving to avoid spreading the coronavirus, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
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