The average price of a gallon of self-serve regular
gasoline in Los Angeles County today recorded its largest daily decrease since March 20, dropping 1.9 cents to $3.891.
The average price has dropped 12 times in the past 13 days, decreasing 12.5 cents over the past 13 days, including 1.5 cents on Thursday, according to figures from the AAA and Oil Price Information Service. It rose 19.1 cents
during a nine-day streak of increases that immediately preceded the current run of dropping prices.
The average price is 7.1 cents less than one week ago and 25.6 cents lower than one year ago but 32.8 cents more than one month ago.
The Orange County average price dropped 2.4 cents to $3.849, its largest daily decrease since March 18. It has dropped 13 consecutive days and is 9.1 cents less than one week ago and 28.4 cents lower than one year ago, but 29.2 cents more than one month ago.
The Orange County average price has decreased 15.4 cents over the past 13 days, including 2.2 cents on Thursday. It rose 18.7 cents during a 10-day streak of increases that immediately preceded the current run of dropping prices.
“The wholesale price of Los Angeles gasoline has dropped 76 cents since May 11 as more supply has become available,” said Jeffrey Spring the Automobile Club of Southern California’s corporate communications manager.
“Given the more than $1.80-cent difference between wholesale and retail prices, we would expect gas station prices to be coming down much more quickly, since the normal margin is $1 or less.”
