July 13, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Average Gas Prices Drop for Three Consecutive Weeks

 

Gas prices have been dropping for three weeks. (Thinkstock)
Gas prices have been dropping for 21 consecutive days. (Thinkstock)

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 21st consecutive day, decreasing three-tenths of a cent to $4.01, its lowest amount since March 12.

The average price has also decreased 22 times in the past 23 days, dropping 17.2 cents over that span, including eight-tenths of a cent on Sunday, according to figures from the AAA and Oil Price Information Service. It is 5.3 cents less than one week ago, 15.7 cents lower than one month ago and 6.4 cents below what it was one year ago.

The 21-day streak of dropping prices is the longest since a 26-day streak from April 30-May 25.

The Orange County average price also dropped for the 21st consecutive day, decreasing seven-tenths of a cent to $3.974, its lowest amount since March 11.

The Orange County average price has dropped 22 times in the past 23 days, decreasing 19.3 cents over that span, including seven-tenths of a cent on Sunday. It is 6.2 cents less than one week ago, 18.4 cents lower than one month ago and 8.3 cents below what it was one year ago.

The 21-day streak of dropping prices is the longest since a 26-day streak from April 29-May 24.

The dropping prices are the result of increased supply stemming from refineries running at a higher capacity, according to Jeffrey Spring of the Automobile Club of Southern California.

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