The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Wednesday for the eighth consecutive day and ninth time in 10 days, dropping eight-tenths of a cent to $6.395.
The average price has dropped 6.5 cents over the past 10 days, including 1.5 cents Tuesday, its largest daily decrease since April 13, according to figures from the AAA and the Oil Price Information Service. The run of dropping prices follows an 18-day streak of increases totaling 36.9 cents.
The average price is 6.5 cents less than one week ago but 29.7 cents more than one month ago and $2.136 higher than one year ago.
The Orange County average price also decreased for the eighth consecutive day and ninth time in 10 days, dropping nine-tenths of a cent to $6.325. It has decreased 8.5 cents over the past 10 days, including 1.4 cents Tuesday. The run of dropping prices follows a 17-day streak of increases totaling 35.1 cents.
The Orange County average price is 8 cents less than one week ago but 25.3 cents more than one month ago and $2.105 higher than one year ago.
The dropping pump prices are the result of a sharp drop in Los Angeles wholesale gasoline prices and a slight downturn in consumer demand reported by the U.S. Energy Information Administration, which is likely due to record high prices, said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
The national average price dropped for the eighth consecutive day following an 18-day streak of increases, decreasing 1.3 cents to $4.955. It has dropped 6.1 cents over the past eight days, including 1.3 cents Tuesday.
The average price rose 41.5 cents during the 18-day streak of increases. It is 5.9 cents less than one week ago but 36.2 cents more than one month ago and $1.886 higher than one year ago.
