Southland Gas Prices Drop To Lowest Amount Since Last January

Southland Gas Prices Drop To Lowest Amount Since Last January

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. 24, falling a half-cent to $3.314, the 16th consecutive decrease.

The average price has dropped 11.4 cents over the past 16 days, including nine-tenths of a cent on Thursday, according to figures from the AAA and Oil Price Information Service.

The average price is 5.3 cents less than one week ago and 14.6 cents lower than one month ago but 6.5 cents higher than one year ago.

The Orange County average price dropped to its lowest amount since Jan. 23, falling a half-cent to $3.275, the 22nd consecutive decrease.

The Orange County average price has dropped 14.1 cents over the past 22 days, including seven-tenths of a cent on Thursday. It had risen five times in the six days immediately before the streak of decreases, increasing 4.7 cents.

The Orange County average price is 5.2 cents less than one week ago and 12.7 cents lower than one month ago but 6.1 cents higher than one year ago.

“Lower-than-expected demand continued the downward pressure on gas prices in the last week,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.

Photo: Getty Images

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