Gas Charts Largest Daily Price Drop in 2 Years

The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily decrease in at least two years Friday, falling 3.2 cents to $4.556.

The average price has dropped for 10 consecutive days, falling 14.9 cents during that span, according to figures from the AAA and Oil Price Information Service.

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Before the downward trend began, the price rose 50.4 cents over seven consecutive days to a record high of $4.705.

The average price is 12.9 cents less than one week ago, but 40.1 cents more than one month ago and 66.7 cents higher than one year ago.

Orange County also recorded its largest daily decrease in at least two years today, falling 3.2 cents to $4.524.

The average price in Orange County has dropped for 11 consecutive days, falling 16.6 cents during that span, after rising 51.3 cents over the previous six days to a record high of $4.69. The average price is 13.1 cents less than one week ago, but 40.6 cents more than one month ago and 65.5 cents higher than one year ago.

"Oil industry analysts reported significant drops in the wholesale market on Wednesday which, if they hold, should bring prices well below $4 a gallon in Southern California," Jeffrey Spring of the Automobile Club of Southern California said. "The only question is how quickly that will happen."