Southland Gasoline Prices Drop For 21st Day

The average price of a gallon of self-serve regular gasoline in Los Angeles County fell today for the 21st consecutive day, decreasing four-tenths of a cent to $3.862.

The average price is 7 cents less than one week ago, 5.3 cents lower than one month ago and 84.1 cents below what it was one year ago, according to figures from the AAA and Oil Price Information Service.

The average price has dropped 20 cents over the past 21 days, including eight-tenths of a cent on Monday. The dropping prices were immediately preceded by a 14-day streak of rising prices totaling 20.1 cents.

The Orange County average price also decreased for the 21st consecutive day today following a 14-day streak of rising prices, dropping seven-tenths of a cent to $3.824 -- 7.7 cents less than one week ago, 6.6 cents lower than one month ago and 86.6 cents below the record $4.69 reached one year ago today in response to concerns about supplies.

The Orange County average price has fallen 21.6 cents over the past 21 days, including eight-tenths of a cent on Monday. The dropping prices were immediately preceded by a 14-day streak of rising prices totaling 20.3 cents.

The falling pump prices in Los Angeles and Orange counties are the result of a sharp drop in the price of wholesale gasoline, lower crude oil prices and adequate inventory, according to Jeffrey Spring of the Automobile Club of Southern California.

-City News Service