The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday to its lowest amount since March 8, 2019, decreasing 2.5 cents to $3.357.
The average price has dropped 18 consecutive days and 21 of the past 22, decreasing 21 cents, including 2.2 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.
The average price is 10.9 cents less than week ago, 21.3 cents lower than one month ago and 2.5 cents below what is was one year ago. It has dropped 25.8 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Feb. 15, 2019, decreasing 2.4 cents to $3.297. It has dropped 23 consecutive days, decreasing 22.2 cents, including 2.5 cents on Wednesday.
The Orange County average price is 12.2 cents less than one week ago, 22.4 cents lower than one month ago and 3.3 cents below what it was one year ago. It has dropped 24.8 cents since the start of the year.
The decreasing pump prices are the result of lower oil prices stemming from increased production by Russia and Saudi Arabia boosting the supply and a decline in demand due to a significant drop in commercial and general motorist traffic related to the coronavirus outbreak, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
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