Gas Prices Drop Again

Gas prices have dropped slightly for the fourth consecutive day after rising 43 times in 45 days.

The six-tenths of a cent drop brought the average of a gallon of regular, self-serve gasoline to $4.276, which is seven-tenths of a cent less than it was a week ago, according to figures from the AAA and Oil Price Information Service. The average is still 11.3 cents more than it was last month and $1.125 more than last year.

There are still some stations in and around Redondo Beach that sell gas for less than the average price. Prices are according to GasBuddy.com and reflect user-submitted information from the past 24 hours.

• Thrifty, 4925 Torrance Blvd., Torrance
  Regular: $4.159

  Premium: $4.339
• Thrifty, 16515 Hawthorne Blvd., Lawndale
  Regular: $4.169

  Premium: $4.369
• Arco, 1890 Pacific Coast Highway, Redondo Beach
  Regular: $4.199

  Premium: $4.399
• Arco, 16518 Hawthorne Blvd., Lawndale
  Regular: $4.199
  Premium: $4.399
• Arco, 1131 Pacific Coast Highway, Hermosa Beach
  Regular: $4.229
  Premium: $4.399

The fall in prices can be attributed to several factors, Automobile Club of Southern California representative Jeffrey Spring told City News Service on Saturday. The killing of Osama bin Laden by U.S. troops led to less unrest in the Middle East and North Africa, which possibly contributed to a nearly 10-percent drop in the price of crude oil.

This decrease, which dropped prices to below $100 per barrel, was the first in two months, Spring said. "That's a pretty significant drop for oil."

Spring also said that if oil prices keep dropping, Southern California should see prices below $4 per gallon once again.

The record price of $4.614 per gallon was set in June 2008, following an almost 1,000-point drop in the stock market.

City News Service contributed to this report.