The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday to its lowest amount since Oct. 28, 2017, decreasing 2.1 cents to $3.073.
The average price has dropped 32 consecutive days and 35 of the past 36, decreasing 49.4 cents, including 1.2 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.
The average price is 11.5 cents less than a week ago, 48 cents lower than a month ago and 61.8 cents below what is was one year ago. It has dropped 54.2 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Dec. 19, 2017, decreasing 1.1 cents to $3.049. It has dropped 37 consecutive days, decreasing 47 cents, including 1.4 cents on Wednesday.
The Orange County average price is 11.2 cents less than one week ago, 45.4 cents lower than one month ago and 59.6 cents below what it was one year ago. It has dropped 49.6 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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