LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased four-tenths of a cent Tuesday to $5.80, extending its streak of dropping prices to 22 consecutive days.
The average price has dropped 27 cents over the past 22 days, including two-tenths of a cent Monday, 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 4.9 cents less than one week ago and 16.6 cents lower than one month ago but $1.782 higher than one year ago.
The Orange County average price dropped 1 cent to $5.752, one day after remaining unchanged. It is 5.1 cents less than one week ago and 17 cents lower than one month ago but $1.767 more than one year ago.
Andrew Gross, an AAA national public relations manager, warned drivers "these lower pump prices could be temporary if the global price of oil increases due to constrained supply."
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration. The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.
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