LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today to its lowest amount since Feb. 1, 2019, decreasing eight-tenths of a cent to $3.277.
The average price has dropped 22 consecutive days and 25 of the past 26, decreasing 29 cents, including 2 cents on Sunday, according to figures from the AAA and Oil Price Information Service.
The average price is 14.4 cents less than week ago, 29.4 cents lower than one month ago and 24.8 cents below what is was one year ago. It has dropped 33.8 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Jan. 19, 2018, decreasing 1 cent to $3.22. It has dropped 27 consecutive days, decreasing 29.9 cents, including 1.7 cents on Sunday.
The Orange County average price is 14.2 cents less than one week ago, 29.8 cents lower than one month ago and 26.8 cents below what it was one year ago. It has dropped 32.5 cents since the start of the year.
The dropping prices are the result of the significant decrease of commercial and general motorist traffic because of the coronavirus outbreak and increased oil production by Russia and Saudi Arabia boosting the supply and lowering the price, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.