The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday to its lowest amount since Dec. 23, 2017, decreasing 1.2 cents to $3.094.
The average price has dropped 31 consecutive days and 34 of the past 35, decreasing 47.3 cents, including 1.8 cents on Tuesday, according to figures from the AAA and Oil Price Information Service.
The average price is 12.2 cents less than a week ago, 46.3 cents lower than a month ago and 58.7 cents below what is was one year ago. It has dropped 52.1 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Dec. 23, 2017, decreasing 1.4 cents to $3.06. It has dropped 36 consecutive days, decreasing 45.9 cents, including 1.6 cents on Tuesday.
The Orange County average price is 11.7 cents less than one week ago, 44.6 cents lower than one month ago and 57.6 cents below what it was one year ago. It has dropped 48.5 cents since the start of the year.
The dropping prices are a result of weakened demand as many people heed stay-at-home orders and the ongoing oil price war between Saudi Arabia and Russia, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
The oil price is the top factor in determining the gasoline price.
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