Gas Prices Dip for Seventh Straight Week But Drop Slows

Gas prices continued to drop last week, and there is reason to believe that they haven’t yet hit bottom.

While it was the seventh straight week of price declines, the declined slowed, which seemed to fit with expert predictions that the prices would plateau soon. However, oil prices tumbled, giving commuters hope for ongoing price breaks.

“Prices have been declining more slowly in recent days,” said Auto Club spokesperson Jeffrey Spring. “However, oil prices took a tumble today to just below $92 per barrel after news about the economy and an announced release of oil from the Strategic Petroleum Reserve. If the lower oil price holds, we may see additional declines at the pump.”

According to the Automobile Club of Southern California’s Weekend Gas Watch, the average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $3.896 per gallon, which is 4.5 cents lower than last week, 29 cents lower than last month, and 89 cents higher than last year.

In the Inland Empire, the average per gallon price is $3.865, which is 4.1 cents lower than last week, 23 cents lower than last month, and 78 cents more than last year.

The stations currently selling the cheapest gas in the area are listed below. Local prices are according to GasBuddy.com and reflect prices reported within the last 24 hours:

• ARCO — 780 Brea Canyon Road & Lycoming St.
  Regular — $3.69
  Midgrade - $3.79
  Premium - $3.89
• - 3302 S Diamond Bar Boulevard & Brea Canyon Road
  Regular - $3.73
  Midgrade - $3.83
  Premium - $3.93
• Shell - 21103 Golden Springs Drive & Brea Canyon Road
  Regular - $3.75
  Midgrade - $3.85
  Premium - $3.95
• - 1024 Brea Canyon Road & Golden Springs Drive
  Regular - $3.75
  Midgrade - $3.89
  Premium - $3.99
• Chevron - 21095 Golden Springs Drive & Brea Canyon Road
  Regular - $3.75
  Midgrade - $3.89
  Premium - N/A