Gas prices in Southern California are 50 cents below their peak in early May, according to the Automobile Club of Southern California.
It is the 55th time in 56 days that prices at the pump have declined.
Prices in Orange County have been decreasing but not as steeply as elsewhere. Last week in Orange County the average gallon of gas fell eight-tenths of a cent to $3.784, which is the lowest since March 2. The average price is 7.2 cents less than last week and 24.1 cents less than a month ago.
In the Los Angeles-Long Beach area, gas is $3.817 per gallon, a 7.9-cent drop from last week and 23 cents below last month.
The average price in Orange County has also fallen 48.1 cents over the past 46 days.
“Prices came down a little more quickly this week, perhaps because of last week’s Obama administration announcement that it is releasing oil from the Strategic Petroleum Reserve,” said Auto Club spokesperson Jeffrey Spring in a press statement.
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The Auto Club predicted 2.29 million local Independence Day travelers going by car this year.
“That’s a 2.9 percent decrease from last year’s car travelers over this holiday and higher gas prices are probably a major reason for the downturn,” Spring said.
Analysts say that the consistent drop in gas prices is because of the declining cost of crude oil.
According to Tupper Hull of the Western States Petroleum Association, crude oil accounts for two-thirds to three-quarters of the price of a gallon of gasoline.
The stations currently selling the cheapest gas in the area are listed below. Local prices are according to GasBuddy.com and reflect prices reported within the last 24 hours.
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Chevron at 2950 Westminster Ave & Seal Beach Blvd
- Regular—$3.79
- Premium—$4.03
76 at 12071 Seal Beach Blvd & Bradbury Rd
- Regular—$3.79
- Premium—$3.99
ARCO at 11171 Los Alamitos Blvd & Hedwig Rd
- Regular—$3.63
- Premium—$3.89
Shell at 10961 Los Alamitos Blvd & Katella Ave
- Regular—$3.75
- Premium—$3.95
Click here for more prices in the region. If you’re planning a trip, click here and plug in your travel plans to find out how much it will cost.
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