The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the 10th straight day following a 20- day streak of rising prices, decreasing four-tenths of a cent Saturday to $2.848.
The average price is 2.2 cents less than one week ago, 12.9 cents higher than one month ago, and 4.1 cents less than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price also dropped for the 10th consecutive day Saturday, decreasing a half-cent to $2.836. The Orange County average price is 2.1 cents less than one week ago, 12.2 cents more than one month ago, and 3.5 cents lower than one year ago.
“Los Angeles wholesale gasoline prices have dropped by about 30 cents in the last two weeks due to ample supplies, which usually would push prices downward more sharply than the slight decreases we’ve seen in the past week,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“However, oil industry analysts expect local refineries are beginning this week to take production units offline for maintenance, so excess supply could be used up quickly and wholesale prices could change direction again.”
—City News Service
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