Average LA County Gas Price Drops Slightly

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LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped three-tenths of a cent today to $4.669, after changing by one-tenth of a cent or remaining unchanged for five consecutive days.

The average price is seven-tenths of a cent less than one week ago and six-tenths of a cent lower than one month ago but $1.267 higher than one year ago, according to figures from the AAA and Oil Price Information Service.

The average price dropped one-tenth of a cent Thursday, Friday and Saturday, was unchanged Sunday and rose one-tenth of a cent Monday.

The average price has decreased 4.7 cents since hitting the record high of $4.716 on Nov. 27.

The Orange County average price was unchanged, remaining at $4.65, after decreasing seven-tenths of a cent over the previous five days. It is six- tenths of a cent less than one week ago but 1.1 cents more than one month ago and $1.267 higher than one year ago.

The Orange County average price has decreased 3.9 cents since rising to $4.689 on Nov. 26, one-tenth of a cent less than the record set on Oct. 8, 2012.

``Prices are stable, at a high level,''Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager told City News Service. ``Gas prices in the region never fell at the same rate as did oil prices when the price dropped from $85 per barrel to around $64 in November and December 2021. Although oil prices have again increased, gas prices have remained flat.

``However, we're about to go into the turnaround period when refineries start producing summer blend gasoline, which is more expensive to produce so we'll have to see how that affects gas prices.''

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