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L.A. County gas prices continue to drop

October 20, 2014

The average price for gas has dropped for seven consecutive days. (Korea Times file)

The average price for gas has dropped for 19 consecutive days. (Korea Times file)

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 Feb. 18, 2011, decreasing a half-cent to $3.528.

The average price has decreased 19 consecutive days and 42 of the past 43, dropping 30 cents over that span, including 1.3 cents on Sunday, according to figures from the AAA and Oil Price Information Service.

The average price is 10.3 cents less than one week ago, 22.9 cents lower than one month ago and 26.4 cents below what it was one year ago.

The Orange County average price dropped to its lowest amount since Feb. 17, 2011, decreasing eight-tenths of a cent to $3.506. It is 9.8 cents less than one week ago, 21.6 cents lower than one month ago and 25 cents below what it was one year ago.

The Orange County average price has decreased 18 consecutive days and 40 of the past 42, dropping 29 cents over that span, including 1.3 cents on Sunday.

The falling pump prices are the result of plummeting prices for oil and wholesale gasoline, according to Jeffrey Spring of the Automobile Club of Southern California.

“Provided no supply issues occur locally, we can expect prices to continue dropping at least in the near future,” Spring said.