LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 31st consecutive day and 32nd time in the past 33 days, falling 3.9 cents to $6.021, its lowest amount since May 15.
The average price has dropped 44.1 cents over the past 33 days, including 3.6 cents Thursday, according to figures from the AAA and the Oil Price Information Service. The run of dropping prices follows an 18-day streak of increases totaling 36.9 cents.
The average price is 18.1 cents less than one week ago and 43.9 cents lower than one month ago but $1.677 more than one year ago.
The Orange County average price also decreased for the 31st consecutive day and 32nd time in 33 days, dropping 3.9 cents to $5.91, its lowest amount since May 13. It has decreased 50 cents over the past 33 days, including 4.1 cents Thursday. The run of dropping prices follows a 17-day streak of increases totaling 35.1 cents.
“Both oil prices and Los Angeles wholesale gasoline prices have dropped significantly because of concerns about future demand,” said Doug Shupe, the Automobile Club of Southern California's corporate communications manager. “If current trends continue, local gas prices are likely to drop even more significantly.”
The national average price dropped for the 31st consecutive day following an 18-day streak of increases, decreasing 2.8 cents to $4.577. It has dropped 43.9 cents over the past 31 days, including 2.6 cents Thursday, after rising 41.5 cents during the 18-day streak of increases.
The national average price is 14.4 cents less than one week ago and 43.7 cents lower than one month ago but $1.422 more than one year ago.
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