Gas prices in LA, Orange counties drop to lowest amount since March 7

LOS ANGELES (CNS) -- The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Sunday for the 54th consecutive day since rising to a record, dropping 1.4 cents to $5.495, its lowest amount since March 7.

The average price has dropped 96.7 cents since rising to a record high of $6.462 on June 14, including 4.1 cents Saturday, according to figures from the AAA and the Oil Price Information Service. It is 15.4 cents less than one week ago and 74.1 cents lower than one month ago, but $1.114 more than one year ago.

The Orange County average price also decreased for the 54th consecutive day, dropping 2 cents to $5.38, its lowest amount since March 6. It is 16.9 cents less than one week ago and 76.1 cents lower than one month ago, but $1.028 more than one year ago.

The Orange County average price has dropped $1.03 since rising to a record $6.41 on June 12, including 3.7 cents Saturday.

The national average price also dropped for the 54th consecutive day, decreasing 1.5 cents to $4.069. It has dropped 94.7 cents since rising to a record $5.016 on June 14, including 2.9 cents Saturday.

The national average price is 15.1 cents less than one week ago and 68.3 cents lower than one month ago, but 88.1 cents more than one year ago.

"Gas prices will remain volatile as we move through the final month of summer travel," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service. "Demand will likely increase closer to Labor Day which will put upward pressure on pump prices."

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