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Gasoline Price Drops Below $4 in NW Valley

The average price in Los Angeles County decreased for the 20th consecutive day.

The price of self-serve regular gasoline fell below $4 at some stations in the Northwest Valley Monday.

Meanwhile, the average price in Los Angeles County decreased for the 20th consecutive day, falling 1.8 cents to $4.219, one day after dropping 3.2 cents.

The average price has decreased for 48.6 cents over the past 20 days after rising 50.4 cents over the previous seven days and reaching a record high of $4.705, according to figures from the AAA and Oil Price Information Service.

The average price is 25 cents less than it was one week ago, but 6.5 cents more than one month ago and 35.6 cents higher than one year ago.

The Orange County average price decreased Monday for the 21st consecutive day, falling 1.9 cents to $4.177, one day after dropping 3.3 cents. It has decreased 51.3 cents over the past 21 days after rising 51.3 cents over the previous six days to a record high of $4.69.

The Orange County average price is 26.6 cents less than one week ago, but 4.4 cents more than one month ago and 33.6 cents higher than one year ago.

The dropping prices reflect a correction of California's temporary supply issue from refinery problems and an adjustment in demand expectations by wholesale and futures traders, according to Jeffrey Spring of the Automobile Club of Southern California.

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