LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County declined one-tenth of a cent today to $4.673.
The average price is one-tenth of a cent more than one week ago, 3.8 cents less than one month ago, and $1.45 more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped 4.4 cents since hitting the record high of $4.716 on Nov. 27.
The Orange County average price rose six-tenths of a cent to $4.647. It is 1 cent more than one week ago, 3.8 cents less than one month ago, and $1.44 higher than one year ago. The Orange County average price has dropped 4.2 cents since moving within one-tenth of its record high on Nov. 26.
The average prices have dropped from their highs for the year because of lower demand and reduced oil prices.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.