LA County Average Gas Price Falls for 40th Straight Day
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The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Sunday for the 40th consecutive day since rising to a record.
The average price dropped 1.8 cents to $5.788, its lowest amount since April 28.
The average price is 18.2 cents less than one week ago and 58.4 cents lower than one month ago, but $1.432 more than one year ago. It has dropped 67.4 cents since rising to a record $6.462 June 14.
The Orange County average price also decreased for the 40th consecutive day, dropping nine-tenths of a cent to $5.697, its lowest amount since March 9. It has decreased 71.1 cents over the past 40 days, including 2.8 cents Saturday. The run of dropping prices follows a 17-day streak of increases totaling 35.1 cents.
The Orange County average price is 16.8 cents less than one week ago and 59.8 cents lower than one month ago, but $1.38 more than one year ago. It has dropped 71.3 cents since rising to a record $6.41 June 12.
In Riverside County, the average price of a gallon of self-serve regular gasoline dropped for the 20th consecutive day and 27th time in 28 days, decreasing 1 cent to $5.684, its lowest amount since March 10.
The average price in California Sunday was $5.741.
The average U.S. price of regular-grade gasoline plunged 32 cents over the past two weeks to $4.54 per gallon.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the continued decline comes as crude oil costs also fall.
“Further drops at the pump are likely as the wholesale gasoline price cuts continue making their way to street level,” Lundberg said in a statement.
The average price at the pump is down 55 cents over the past six weeks, but it’s $1.32 higher than it was one year ago.
Nationwide, the highest average price for regular-grade gas was in Los Angeles. The lowest average was in Baton Rouge, Louisiana, at $3.90 per gallon.
According to the survey, the average price of diesel dropped 22 cents over two weeks to $5.55 a gallon.
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