Southland gas prices drop sharply

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Gas Prices Down

(AP photo)

LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily decrease in at least two years Saturday, falling 3.7 cents to $4.519.

The average price has dropped for 11 consecutive days, falling 18.6 cents during that span, including 3.2 cents on Friday, according to figures from the AAA and Oil Price Information Service.

Before the downward trend began, the price rose 50.4 cents over seven consecutive days to a record high of $4.705.

The average price is 15 cents less than one week ago, but 36.2 cents more than one month ago and 62.7 cents higher than one year ago. Orange County also recorded its largest daily decrease in at least two years today, falling 3.8 cents to $4.486.

The Orange County average price has dropped for 12 consecutive days, falling 20.4 cents during that span, including 3.2 cents on Friday, after rising 51.3 cents over the previous six days to a record high of $4.69.

The Orange County average price is 15.2 cents less than one week ago, but 35.7 cents more than one month ago and 61.4 cents higher than one year ago.

The sharply dropping pump prices are the result of significant decreases to the price of wholesale gasoline, according to Jeffrey Spring of the Automobile Club of Southern California said.

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