AAA: County Gas Prices at Lowest Level Since August 30

The average price of a gallon of self-serve regular gasoline in Los Angeles County fell Wednesday for the 22nd consecutive day, decreasing nine-tenths of a cent to $3.853, its lowest amount since Aug. 30.

The average price is 7 cents less than one week ago, 7.8 cents lower than one month ago and 85.2 cents below the record $4.705 reached one year ago Wednesday in response to concerns about supplies, according to figures from the AAA and Oil Price Information Service.

The average price has dropped 20.9 cents over the past 22 days, including four-tenths of a cent on Tuesday. The dropping prices were immediately preceded by a 14-day streak of rising prices totaling 20.1 cents.

The streak of decreases is the longest since a 39-day streak from July 20-Aug. 27.

The Orange County average price also decreased for the 22nd consecutive day Wednesday following a 14-day streak of rising prices, dropping nine-tenths of a cent to $3.815, its lowest amount since Aug. 29.

The Orange County average price is 7.7 cents less than one week ago, 8.8 cents lower than one month ago and 87.4 cents below what it was one year ago.

The Orange County average price has fallen 22.5 cents over the past 22 days, including seven-tenths of a cent on Tuesday. The dropping prices were immediately preceded by a 14-day streak of rising prices totaling 20.3 cents.

The streak of decreases is the longest since a 37-day streak from July 21-Aug. 26.

The falling pump prices in Los Angeles and Orange counties are the result of a sharp drop in the price of wholesale gasoline, lower crude oil prices and adequate inventory, according to Jeffrey Spring of the Automobile Club of Southern California.

—City News Service.