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 Jan. 4, 2018, decreasing 2.8 cents to $3.188.
The average price has dropped 25 consecutive days and 28 of the past 29, decreasing 37.9 cents, including 2.7 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.
The average price is 16.9 cents less than a week ago, 37.9 cents lower than a month ago and 38.6 cents below what is was one year ago. It has dropped 42.7 cents since the start of the year.
The Orange County average price also dropped to its lowest amount since Jan. 4, 2018, decreasing 1.6 cents to $3.161. It has dropped 30 consecutive days, decreasing 35.8 cents, including 2.2 cents on Wednesday.
The Orange County average price is 13.6 cents less than one week ago, 35.7 cents lower than one month ago and 36.9 cents below what it was one year ago. It has dropped 38.4 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.