LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County declined today for the sixth consecutive day after rising 32 of the previous 33 days, decreasing six-tenths of a cent to $4.30.
The average price is 2.3 cents less than one week ago and 7.7 cents lower than one year ago, but 28.3 cents more than one month ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price declined today for the fifth consecutive day after rising 33 of the previous 34 days, decreasing three-tenths of a cent to $4.291. It is 2.1 cents less than one week ago and 7.1 cents lower than one year ago, but 28.9 cents more than one month ago.
The dropping prices are the result of decreasing prices for oil and gasoline futures caused by an increase in fuel supplies stemming from increased refinery production, according to Jeffrey Spring of the Automobile Club of Southern California.