Southland Gasoline Prices Drop to Lowest Amount Since July

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1.4 cents on Friday to $3.727, its lowest amount since July 15.

Click here to find the cheapest gas price in Baldwin Park.

The average price has dropped on 58 of the past 59 days and is 5 cents less than one week ago and 25.6 cents lower than one month ago, but 9.2 cents more than one year ago, according to figures from the AAA and Oil Price Information Service.

The average price has fallen 97.8 cents over the past 59 days, including 1.1 cents on Thursday. It decreased for 48 consecutive days, was unchanged Nov. 27 and resumed dropping the next day. Today's decrease was the largest since Nov. 16.

The streak of dropping prices is the longest since a 90-day streak from Sept. 16-Dec. 14, 2008.

"There is a lot more room for prices to fall, judging by wholesale gas prices,'' said Jeffrey Spring of the Automobile Club of Southern California.

"As of Wednesday, Los Angeles reformulated gasoline wholesale prices were $1.20 lower that the current Los Angeles average price. Normally the margin between wholesale prices and prices at the pump is much lower.''

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