The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the 42nd consecutive day Sunday, falling nine-tenths of a cent to $2.963, its lowest amount since July 29, 2017.
The average price is 8.4 cents less than a week ago, 51.2 cents lower than a month ago and $1.071 cheaper than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped 65.9 cents since the start of the year.
The Orange County average price dropped for the 47th consecutive day, decreasing six-tenths of a cent to $2.926 — also its lowest amount since July 29, 2017.
The Orange County average price is 9.1 cents less than one week ago, 49.3 cents lower than one month ago and $1.071 less than 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.