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 19, 2019, decreasing 2.2 cents to $3.382.
The average price has dropped 17 consecutive days and 20 of the past 21, decreasing 18.5 cents, including 1.7 cents on Tuesday, according to figures from the AAA and Oil Price Information Service.
The average price is 11.7 cents less than week ago and 18.7 cents lower than one month ago but six-tenths of a cent more than one year ago. It has dropped 23.3 cents since the start of the year.
The Orange County average price dropped to its lowest amount since March 15, 2019, decreasing 2.5 cents to $3.321. It has dropped 22 consecutive days, decreasing 19.8 cents, including 1.6 cents on Tuesday.
The Orange County average price is 11.2 cents less than one week ago, 20.1 cents lower than one month ago and one-tenth of a cent below what it was one year ago. It has dropped 22.4 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 due to a significant drop in commercial and general motorist traffic related to the coronavirus outbreak, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
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