Community Corner
Gas Prices Going Down
Prices are at their lowest since February, but still higher than one year ago.
The average price of a gallon of self-serve regular gasoline in Los Angeles County fell today to its lowest amount since Feb. 16, dropping 1.6 cents to $3.972.
Prices at stations in Pacific Palisades are somewhat higher, ranging between $4.08 per gallon at the Chevron at 17301 Pacific Coast Highway to $4.40 at the Mobil at 15281 W. Sunset Boulevard, and the 76 station at 15400 W. Sunset Boulevard, according to the AAA website price tracker.
The average price has decreased for 34 consecutive days and is 13.2 cents lower than one week ago and 41.1 cents below one month ago, though it's 5.7 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service.
Find out what's happening in Pacific Palisadeswith free, real-time updates from Patch.
The decreasing pump prices are the result of lower crude oil prices, caused by soft demand and economic concerns in the United States and abroad, according to Jeffrey Spring of the Automobile Club of Southern California.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
