The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday for the eighth time in the past nine days, falling three-tenths of a cent to $4.223, one day after dropping eight-tenths of a cent.
The average price has dropped 3.5 cents over the past nine days following a 21-day streak of increases totaling 58.6 cents that pushed it to its highest amount since July 21, 2015, according to figures from the AAA and Oil Price Information Service.
The average price is 3.2 cents less than one week ago, but 55.1 cents more than one month ago and 34.7 cents higher than one year ago. It has risen 83.2 cents since the start of the year.
The Orange County average price dropped for the eighth time in 11 days, decreasing 1.1 cents to $4.181. It has decreased 4.2 cents over the past 11 days after rising to its highest amount since July 22, 2015.
The Orange County average price is 3.4 cents less than one week ago, but 54.5 cents more than one month ago and 35.5 cents higher than one year ago. It has risen 83.2 cents since the start of the year.
“We are still seeing indications that prices should trend downward when more imported supply hits the market, which should happen in the next few weeks,” Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service.
“As usual, gas prices are much quicker to rise than to fall, so it could take a while before price drops gain momentum.”
>> Want to read more stories like this? Get our Free Daily Newsletters Here!Follow us: