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 Feb. 5, 2017, decreasing 1 cent to $2.902.
The average price has dropped 47 consecutive days, decreasing 65.5 cents, including 1.3 cents on Thursday, according to figures from the AAA and Oil Price Information Service. The streak is the longest since a 53-day run from Nov. 6-Dec. 28, 2019.
The average price is 7.2 cents less than a week ago, 50.2 cents lower than a month ago and $1.172 below what it was one year ago. It has dropped 71.3 cents since the start of the year.
The Orange County average price dropped to its lowest amount since July 20, 2017, decreasing 1.3 cents to $2.869. It has dropped 52 consecutive days, decreasing 65 cents, including 1.7 cents on Thursday. The streak is the longest since a 53-day run from Nov. 5-Dec. 27, 2019.
The Orange County average price is 8 cents less than one week ago, 47.7 cents lower than one month ago and $1.169 below what it was one year ago. It has dropped 67.6 cents since the start of the year.
“At this time last year, prices rose to over $4 per gallon because of refinery issues,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Today prices are more than 25% lower because demand continues to fall and gasoline inventories continue to increase.”
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