Gas Prices Fall Over Holiday Weekend

The average price of a gallon of self-serve regular gasoline in Los Angeles County continued to decline over the Memorial Day weekend, decreasing a half-cent Monday to $4.062, City News Service reported.

The average price, which has fallen nearly 23 cents since the streak of decreases began May 7, is 7.2 cents less than it was last week and nearly 20 cents lower than it was last month; however, it's still $1.042 higher than it was last year at this time, according to the AAA and Oil Price Information Service.

Before the 24-day streak of decreases, the average price rose 43 times in 45 days.

There are still stations selling relatively inexpensive gas in the Redondo Beach area. Prices are from GasBuddy.com and user-reported within the past 24 hours.

• Thrifty, 4925 Torrance Blvd., Torrance
  Regular: $3.879
  Premium: $4.059
• Thrifty, 16515 Hawthorne Blvd., Lawndale
  Regular: $3.969
  Premium: $4.169
• 76, 5404 W. 190th St., Torrance
  Regular: $3.979 (cash price)

  Premium: $4.219 (cash price)
• Arco, 1131 Pacific Coast Highway, Hermosa Beach
  Regular: $3.999
  Premium: $4.139

Crude oil costs account for up to three-quarters of the cost of a gallon of gasoline, according to Western States Petroleum Association spokesman Tupper Hull. Analysts credit the decreasing cost of gas to the declining cost of crude oil.

A barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange has fallen 11.7 percent to $100.59 from its two-year high of $113.93 on April 29.

City News Service contributed to this report.