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Gas prices dip below $3 in LA County

November 12, 2014
(The Korea Times / Park Sang-hyuk)

Arco gas station on the corner of Western Ave. and Melrose Ave. advertised regular unleaded gasoline for $2.99 on Nov. 11. (The Korea Times / Park Sang-hyuk)

In Los Angeles’ Koreatown, an Arco gas station on the corner of Western Ave. and Melrose Ave. advertised regular unleaded gasoline for $2.99 on Nov. 11. This is just one of many locations in the area that have started offering gas below the three dollar mark.

At least one Orange County gas station is a step ahead with mid-grade gas prices dipping below three dollars and premium straddling the same price point.

The price of gasoline continues to fall in Los Angeles County for the 40th consecutive day, resulting in an average of $3.25 per gallon according to AAA and  – the lowest since Dec. 2010.

“Falling oil prices are the main reason” for the dropping gasoline prices, Marie Montgomery of the Automobile Club of Southern California told City News Service.

The range of gas prices is offsetting the average with some locations such as the 76 on Wilshire Blvd & 26th St that have regular unleaded gas priced at $4.99.