LA County reports largest gas price decline since April

The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Tuesday for the seventh consecutive day and eighth time in nine days, dropping 1.5 cents to $6.403, its largest daily decrease since April 13.

The average price has dropped 5.7 cents over the past nine days, including four-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service. The run of dropping prices follows an 18-day streak of increases totaling 36.9 cents.

The average price is 5.9 cents less than one week ago but 30.6 cents more than one month ago and $2.145 higher than one year ago.

The Orange County average price also decreased for the seventh consecutive day and eighth time in nine days, dropping 1.4 cents to $6.334. It has decreased 7.6 cents over the past nine days, including 1.2 cents on Monday. The run of dropping prices follows an 17-day streak of increases totaling 35.1 cents.

The Orange County average price is 7.4 cents less than one week ago but 25.8 cents more than one month ago and $2.12 higher than one year ago.

The dropping pump prices are the result of a sharp drop to Los Angeles wholesale gasoline prices and a slight downturn in consumer demand reported by the U.S. Energy Information Administration, which is likely due to record high prices, said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.

The national average price of a gallon of self-serve regular gasoline dropped for the seventh consecutive day following an 18-day streak of increases, decreasing 1.3 cents to $4.968. The national average price has dropped 4.8 cents over the past seven days, including two-tenths of a cent Monday.

The national average price rose 41.5 cents during the 18-day streak of increases and is 37.5 cents more than one month ago and $1.897 higher than one year ago.