The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday for the 15th consecutive day, decreasing six-tenths of a cent to $4.017, its lowest amount since April 11.
The average price has decreased 10.3 cents over the past 15 days, including six-tenths of a cent Tuesday, according to figures from the AAA and Oil Price Information Service. It is 3.9 cents less than one week ago and 6.1 cents lower than one month ago but 25.9 cents higher than one year ago.
The Orange County average price also dropped for the 15th consecutive day, decreasing eight-tenths of a cent to $3.986, its lowest amount since April 11. It has dropped 8.1 cents over the past 15 days, including seven-tenths of a cent on Tuesday.
The Orange County average price is 4.3 cents less than one week ago and 6.2 cents lower than one month ago but 26 cents higher than one year ago.
The major reason prices continue to decline is “most of Southern California’s refining capacity has returned” following a series of refinery issues that reduced supply, Marie Montgomery of the Automobile Club of Southern California told City News Service.
“Wholesale Los Angeles gasoline prices have dropped 50 cents from their highest point of the year and so far the retail Los Angeles gas price average has only dropped by 10 cents, so there is still a lot of room for prices to drop further,” Montgomery said.
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