Average LA County Gas Price Under $5 for 1st Time Since March

LOS ANGELES COUNTY -- The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped under $5 for the first time since March 2 today, decreasing 4.8 cents to $4.972.

The average price has decreased 21 consecutive days and 54 times in the 57 days since rising to a record $6.494 on Oct. 5, falling $1.522, including 5.4 cents Wednesday, according to figures from the AAA and the Oil Price Information Service.

The average price is 20.7 cents less than one week ago and 62.8 cents lower than one month ago, but 26.6 cents more than one year ago.

The Orange County average price dropped for the 20th consecutive day, decreasing 4.5 cents to $4.853, its lowest amount since Feb. 26. It is 20.7 cents less than one week ago and 62.1 cents lower than one month ago, but 17.5 cents more than one year ago.

The Orange County average price has decreased 54 times in 57 days since rising to a record $6.357 on Oct. 5, falling $1.504, including 6.1 cents Wednesday.

The national average price dropped for the 22nd consecutive day, decreasing 2.5 cents to $3.47. It is 11.6 cents less than one week ago and 28.8 cents lower than one month ago, but 8.5 cents more than one year ago.

The national average price has dropped 33.5 cents over the past 22 days, including 2.6 cents Wednesday. It is $1.546 lower than the record $5.016 set June 14.

California gas prices are customarily substantially higher than the national average because the state has the highest gas taxes in the nation, along with refinery cap and trade fees, higher general cost of living, a shrinking number of refineries producing gasoline, and the high cost of importing gasoline to the state when its refineries can't produce enough gas due to breakdowns, Marie Montgomery, a public relations specialist with the Automobile Club of Southern California told City News Service.

-- City News Service