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 Jan. 8, 2018, decreasing 3.4 cents to $3.243.
The average price has dropped 23 consecutive days and 26 of the past 27, decreasing 32.4 cents, including eight-tenths of a cent on Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 16.1 cents less than a week ago, 32.4 cents lower than a month ago and 30.4 cents below what is was one year ago. It has dropped 37.2 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Jan. 6, 2018, decreasing 2.1 cents to $3.199. It has dropped 28 consecutive days, decreasing 32 cents, including 1 cent on Monday.
The Orange County average price is 14.7 cents less than one week ago, 32 cents lower than one month ago and 30.7 cents below what it was one year ago. It has dropped 34.6 cents since the start of the year.
The dropping prices are the result of the significant decrease of commercial and general motorist traffic because of the coronavirus outbreak and increased oil production by Russia and Saudi Arabia boosting the supply and lowering the price, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
Photo: Getty Images