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. 1, 2017, decreasing four-tenths of a cent to $2.856.
The average price has dropped 54 consecutive days, decreasing 70.3 cents, including 1.3 cents on Thursday, according to figures from the AAA and Oil Price Information Service. The streak of decreases is the longest since a 92-day run from Oct. 2, 2014-Jan. 1, 2015.
The average price is 4.6 cents less than a week ago, 38.7 cents lower than a month ago and $1.23 below what it was one year ago. It has dropped 75.2 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Jan. 27, 2017, decreasing two-tenths of a cent to $2.828. It has dropped 58 of the past 59 days, decreasing 69.1 cents. It dropped for 53 consecutive days, rose one-tenth of a cent on Sunday, then resumed dropping on Monday
It is 4.1 cents less than one week ago, 37.1 cents lower than one month ago and $1.234 below what it was one year ago. It has dropped 71.7 cents since the start of the year, including 1 cent on Thursday.
“While prices in the futures market for oil spiraled to below zero earlier this week, we don't expect it to have an immediate impact on the price of gasoline,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Prices are still declining, but at a more moderate pace than last week, and it mostly rests on declining demand.”
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