Los Angeles gas prices fall for 16th day in a row, likely to keep dropping
An empty gas station pumps gas in Beverly Hills on Friday March 18, 2013. Gas prices in Southern California had fallen for the 16th consecutive day on Friday, setting a new record low and keeping a long streak of eight consecutive days of negative prices.
An empty gas station pumps gas in Beverly Hills on Friday March 18, 2013. Gas prices in Southern California had fallen for the 16th consecutive day on Friday, setting a new record low and keeping a long streak of eight consecutive days of negative prices.
Gas prices in California dipped below $2 Friday, the 16th straight day they’re under $2 per gallon, according to AAA. The national average has been $1.93 for the past eight days, with the lowest average price in L.A. at $1.88.
The low-volume gas station at 6011 S. Fairfax St. in West Hollywood, which has posted the lowest-ever prices in Southern California, opened at $1.61, according to gasbuddy.com. That’s down from $2.10 a day ago.
Gasbuddy.com also reported prices at some other nearby gas stations, such as Alameda and Fairfax, were as low as $1.74 a gallon.
Gas at the Chevron station at 1402 North Fairfax, which has about 5,000 regular customers, costs $3.16 a gallon, down from $3.40 per gallon and the lowest the rest of the day.
At the Chevron station at 1522 North Fairfax, customers pay $3.59 a gallon. And that’s the lowest price in the area.
“The trend of driving is being reflected by a dramatic drop in gas prices,” said Bill O’Neil, spokesman for Chevron.
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O’Neil said he expects most gas stations to see gas prices drop below $2 per gallon for the next few days. Most are on a buying spree, buying up all kinds of gas, including propane, in hopes of keeping prices low.
Gas prices have been so low that people don’t think the price is low. “They’re not even thinking $1.89 per gallon is low, it’s mind boggling,” said O’Neil.
The price drop is due to consumers holding off on spending because they think prices are too low, but in fact
