L.A. County gas prices drop 66 cents in one month
On Friday, the average price of gas dropped to its lowest amount after hitting a record high of $6.462 on June 14.
"Los Angeles wholesale gasoline prices rose about 15 cents since last week from a four-month low point, but oil prices continue to stay lower due to economic concerns and rising interest rates," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
According to the AAA and Oil Price Information Service, in the past month, the average price of self-serve regular gas in Los Angeles County dropped 66.1 cents and 78.6 cents over the past 45 days, bringing it to its lowest rate since March 9. Despite the steady decline, prices are still a little more than $1 higher than a year ago.
It was a similar trend in neighboring Orange County where the average price dropped almost 67 cents in one month and nearly 83 cents since hitting its record of $6.41 per gallon on June 12. A gallon of self-serve regular gas is now at $5.581 its lowest price since March 8.
Both L.A. and Orange counties saw similar drops on Thursday of 2.9 cents and 2.3 cents respectively.
"Prices are continuing to drop locally and there are now several dozen stations in Southern California with prices below $5 a gallon," said Shupe.
