Photo: Getty Images
LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 18th consecutive day, decreasing nine-tenths of a cent to $5.809.
The average price has dropped 26.1 cents over the past 18 days, including 1.4 cents Thursday, according to figures from the AAA and Oil Price Information Service. The average price rose $1.283 to a record $6.07 during a 32-day streak of increases that ended March 27.
The average price is 8.6 cents less than one week ago and 2.7 cents lower than one month ago but $1.823 higher than one year ago.
The Orange County average price dropped for the 17th consecutive day, decreasing eight-tenths of a cent to $5.764. It has dropped 26.5 cents over the past 17 days, including 1.7 cents Thursday. The streak follows a run of 37 increases in 38 days totaling $1.279 to a record $6.029 March 29.
The Orange County average price is 8.5 cents less than one week ago and 3.6 cents lower than one month ago but $1.81 more than one year ago.
``Southern California's sky-high gas prices this year have reduced demand, so they are coming down quickly with more supply available,'' said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
``There are even a few stations now charging less than $5 a gallon and we would expect the number of under-$5 stations to increase in the coming days.''