July 25, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Average gasoline prices drop for 27th consecutive day

 

The average price of a gallon of gasoline has no dropped to lower than four dollars. (Thinkstock)
The average price of a gallon of gasoline has no dropped to lower than four dollars. (Thinkstock)

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the 27th consecutive day, decreasing seven-tenths of a cent to $3.963, its lowest amount since March 6.

The average price has also decreased 28 times in the past 29 days, dropping 21.9 cents over that span, including nine-tenths of a cent on Saturday, according to figures from the AAA and Oil Price Information Service. It is 5 cents less than one week ago, 21.7 cents lower than one month ago and 5.9 cents below what it was one year ago.

The 27-day streak of dropping prices is the longest since a 30-day streak from Oct. 24-Nov. 22, 2013.

The Orange County average price also dropped for the 27th consecutive day today, decreasing a half-cent to $3.932, its lowest amount since March 2.

The Orange County average price has also dropped 28 times in the past 29 days, decreasing 23.5 cents over that span, including nine-tenths of a cent on Saturday. It is 4.9 cents less than one week ago, 23.2 cents lower than one month ago and 6.8 cents below what it was one year ago.

The 27-day streak of dropping prices is the longest since a 47-day streak from Sept. 18-Nov. 3, 2013.

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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