The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Monday to its lowest amount since Aug. 27, 2017, decreasing seven-tenths of a cents to $3.031.
The average price has dropped 36 consecutive days and 39 of the past 40, decreasing 53.6 cents, including a half-cent on Sunday, according to figures from the AAA and Oil Price Information Service.
The average price is 9.3 cents less than a week ago, 50.1 cents lower than a month ago and 79.6 cents below what is was one year ago. It has dropped 58.4 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Aug. 29, 2017, decreasing six-tenths of a cent to $3.011. It has dropped 41 consecutive days, decreasing 50.8 cents, including six-tenths of a cent on Sunday.
The Orange County average price is 7.9 cents less than one week ago, 47.4 cents lower than one month ago and 78.1 cents below what it was one year ago. It has dropped 53.4 cents since the start of the year.
The dropping prices are a result of weakened demand as many people heed stay-at-home orders, coupled with 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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