The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Saturday to its lowest amount since July 31, 2017, decreasing 1.1 cents to $2.963.
The average price has dropped 41 consecutive days, decreasing 59.4 cents, including 1.3 cents on Friday, according to figures from the AAA and Oil Price Information Service. The streak is the longest since a 53-day run from Nov. 6-Dec. 28, 2019.
The average price is 8 cents less than a week ago, 51.6 cents lower than a month ago and $1.014 below what it was one year ago. It has dropped 65.2 cents since the start of the year.
The Orange County average price also dropped to its lowest amount since July 31, 2017, decreasing 1.7 cents to $2.932. It has dropped 46 consecutive days, decreasing 58.7 cents, including nine-tenths of a cent on Friday. The streak is the longest since a 53-day run from Nov. 5-Dec. 27, 2019.
The Orange County average price is 9.1 cents less than one week ago, 50.1 cents lower than one month ago and $1.015 below what it was one year ago. It has dropped 61.3 cents since the start of the year.
The amounts the average prices are declining are slowing because “oil prices have been fluctuating wildly in recent days,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
The oil price is the top factor in determining the gasoline price.
“We may be nearing a plateau or reaching the bottom of the curve,” Spring told City News Service.
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