July 22, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Average Gasoline Prices Drop for 18th Time in 19 Days

 

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Southland gas prices are the lowest they have been since mid-March. (Thinkstock)

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 18th time in 19 days, decreasing 1 cent to $4.038, its lowest amount since March 15.

The average price has dipped 14.4 cents over the past 19 days, including a half-cent on Wednesday, according to figures from the AAA and Oil Price Information Service.

The average price is 6.3 cents less than a week ago, 9.6 cents lower than a month ago and 6.1 cents below what it was a year ago.

The average price rose 10 times in 11 days to its highest amount since May 19 immediately before the current run of decreases began.

“In many places, the average is right on the cusp of going below $4 a gallon, so most drivers could probably see gas stations with less than $4 a gallon if they look around,” Jeffrey Spring of the Automobile Club of Southern California told Video News West.

The Orange County average price also dropped for the 18th time in 19 days today, decreasing eight-tenths of a cent to $4.009, its lowest amount since March 12. It is 6.6 cents less than a week ago, 11 cents lower than a month ago and 7.5 cents below what it was a year ago.

The Orange County average price has decreased 15.8 cents over the past 19 days, including 1.1 cents on Wednesday. It rose 14 times in 15 days to its highest amount since May 19 immediately before the current run of decreases began.

The dropping pump prices stem from continuing decreases to the wholesale price, reflecting an improving supply situation, according to Jeffrey Spring of the Automobile Club of Southern California.

Motorists heading out on summer vacation should take care to find gas stations away from freeways to find the best prices by using a smart phone application, according to Spring.

“Usually those gas stations have prices that are lower than the ones right next to the freeway,” Spring said.

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