The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday to its lowest amount since Feb. 16, 2011, decreasing 1.7 cents to $3.499.
The average price has decreased 21 consecutive days and 44 of the past 45, dropping 32.9 cents over that span, including 1.2 cents on Tuesday, according to figures from the AAA and Oil Price Information Service.
The average price is 10.5 cents less than one week ago, 24.8 cents lower than one month ago and 28.4 cents below what it was one year ago.
The Orange County average price dropped to its lowest amount since Feb. 15, 2011, decreasing 2 cents to $3.475. It is 10.5 cents less than one week ago, 24.1 cents lower than one month ago and 27.3 cents below what it was one year ago.
The Orange County average price has decreased 20 consecutive days and 42 of the past 44, dropping 32.1 cents over that span, including 1.1 cents on Tuesday.
Today’s 2-cent decrease was the largest daily decrease since Nov. 9, 2012.
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.
—City News Service