The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the 12th consecutive day, following a 34-day streak of increases, decreasing 1.5 cents to $3.414.
The average price has dropped 12.3 cents over the past 12 days, including eight-tenths of a cent on Monday, according to figures from the AAA and Oil Price Information Service. It rose $1.078 during the streak of increases.
The average price is 9.5 cents less one week ago and 62.9 cents lower than one year ago, However, it is 54.8 cents more than one month ago.
The Orange County average price also dropped for the 12th consecutive day today, decreasing 1.6 cents to $3.388. It is 9.9 cents less than one week ago and 64.4 cents lower than one year ago, but 53.1 cents more than one month ago.
The Orange County average price has dropped 13.4 cents over the past 12 days, including 1.1 cents on Monday. It rose $1.09 during a 33-day streak of increases that ended one day before the current streak of decline began.
The dropping pump prices are the result of a sharp decrease to wholesale gasoline prices, which could reduce the average pump price to below $3 per gallon, according to Jeffrey Spring, the corporate communications manager of the Automobile Club of Southern California.
—City News Service