Southland Gasoline Prices Fall

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1 cent today to settle at $4.395, falling for the second day in a row after increasing for seven consecutive days.

The seven-day streak of increases ended Thursday with a drop of two- tenths of a cent. The price rose 17.9 cents during the streak, according to figures from the AAA and Oil Price Information Service.

Despite the back-to-back decreases, today's average price is 11.9 cents more than one week ago, 16 cents higher than one month ago and 18.9 cents greater than one year ago.

The Orange County average price also fell today for the second day in a row after increasing for seven consecutive days, dropping 1.3 cents to $4.37, 10.8 cents more than a week ago, 16.4 cents higher than one month ago and 18.8 cents greater than one year ago.

The seven-day streak of increases ended Thursday with a drop of six- tenths of a cent. The price rose 18.4 cents during the streak.

"It seems the sharp increases are over, but the question is how long it will take pump prices to decline to the levels they were at a week ago," said Jeffrey Spring of the Automobile Club of Southern California.

"If they don't drop by at least 20 cents per gallon, Memorial Day travelers from Southern California may pay the highest gas prices ever for this holiday."

The increases were the result of record low gasoline inventories caused by continued refinery issues, Spring said. The completion of maintenance at refineries in Southern California and Northern California resulted in a nearly 30 cents per gallon drop in the wholesale price of California-blend gasoline on the New York Mercantile Exchange earlier this week.

WHERE ARE THE LOWEST GAS PRICES IN CERRITOS AND ARTESIA?

Cerritos and Artesia residents can visit the Patch Traffic and Gas page by clicking here, to find the lowest prices at the pump in our neighborhood.

- City News Service