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Kids & Family

Southland Gasoline Prices Drop For 40th Day

Gas prices fall to their lowest amount since February.

The average price of a gallon of self-serve regular gasoline in Los Angeles County fell today for the 40th consecutive day, dropping seven-tenths of  a cent to $3.843, its lowest amount since Feb. 10.

The average price has decreased 56.4 cents over the past 40 days,
including 2 cents on Sunday, and is 14.5 cents less than one week ago, 47.8
cents lower than one month ago and 2.8 cents below what it was one year ago,
according to figures from the AAA and Oil Price Information Service.

The Orange County average price also decreased today for the 40th
consecutive day, falling 1.4 cents to $3.797, its lowest amount since Feb. 6.

Find out what's happening in Sherman Oaksfor free with the latest updates from Patch.

The Orange County average price is 14 cents less than one week ago, 49.6
cents lower than one month ago and 4.4 cents below what it was one year ago.

The Orange County average price has fallen 59.2 cents over the past 40
days, including 1.5 cents on Sunday.

Find out what's happening in Sherman Oaksfor free with the latest updates from Patch.

The falling pump prices are the result of lower crude oil prices
stemming from lower demand caused by a slowdown in the global economy,
according to Jeffrey Spring of the Automobile Club of Southern California.

Crude oil costs account for two-thirds to three-quarters of the price of
a gallon of gasoline, said Tupper Hull of the Western States Petroleum
Association, a trade association representing oil companies in six western
states.

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