Southland Gasoline Prices Drop For 46th Consecutive Day

The average price of a gallon of self-serve regular gasoline in Los Angeles County fell today for the 46th consecutive day, dropping eight-tenths of a cent to $3.754, its lowest amount since Jan. 27.

The average price has decreased 65.3 cents over the past 46 days, including 1.6 cents on Saturday, according to figures from the AAA and Oil Price Information Service.

The average price is 9.6 cents less than one week ago, 51.4 cents lower than one month ago and 5.7 cents below what it was one year ago.

The Orange County average price also decreased today for the 46th consecutive day, falling nine-tenths of a cent to $3.709, its lowest amount since Jan. 6.   

The Orange County average price is 10.2 cents less than one week ago, 51.9 cents lower than one month ago and 7.5 cents below what it was one year
ago.    The Orange County average price has fallen 68 cents over the past 46 days, including 1.6 cents on Saturday.

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.