LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today for the eighth consecutive day and 10th time in 11 days, decreasing 1.3 cents to $2.838.
The average price has dropped 6.3 cents over the past 11 days, including seven-tenths of a cent on Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 5.6 cents less than one week ago and 6.2 cents lower than one year ago but one-tenth of a cent more than one month ago.
The Orange County average price dropped for the 11th consecutive day, decreasing 1 cent to $2.824. It has dropped 6.6 cents over the past 11 days, including a half-cent on Monday.
The Orange County average price is 5.5 cents less than one week ago, two-tenths of a cent lower than one month ago and 3.9 cents below what it was one year ago.
The dropping prices likely are a result of the Nov. 1 switch to winter blend gasoline, which is cheaper to produce, and of the fact supplies are adequate to meet demand, Marie Montgomery of the Automobile Club of Southern California told City News Service.
The Los Angeles wholesale price dropped from $1.77 a gallon Nov. 1 to $1.29 Monday, Montgomery said.
“If that holds, we should definitely expect more decreases at the pump,” Montgomery said.
