Los Angeles gas prices fall for 16th day in a row, likely to keep dropping
Gas prices have fallen for 16 days in a row nationwide, but in Los Angeles that streak is likely to end.
The price of a gallon of regular unleaded gas in Los Angeles fell to a national average during morning commute period Thursday.
The average price for the Los Angeles metropolitan area for a gallon of regular unleaded at a local station was $2.93, according to AAA spokesman Matthew Rosich.
That price is slightly higher than the U.S. average price of $2.89, which has fallen by about 20 cents since Aug. 15, when the last time prices hit $2.89 — the price at which L.A. city lawmakers in 2013 established a cap to keep the average price of gas at or less than $2.
Gas prices, which have fluctuated wildly in the Los Angeles area in recent months, peaked at $2.76 in July.
But prices have fallen steadily over the past few weeks.
The average price for the Los Angeles metro area during morning commute period Thursday was $2.68, Rosich said.
The price at L.A.’s local station for a gallon of regular unleaded has fallen by 11 cents since Aug. 15, to $2.83, Rosich said.
But some stations in the South Bay have seen a sharp price drop, according to the AAA report. One station in Westwood, for example, decreased the price of a gallon of regular unleaded to $2.86 on Thursday morning. A station in Carson took the price of gas to $2.98.
In Los Angeles, gasoline prices have been falling for most of the year as the wholesale industry has pushed down the average wholesale price for gasoline over the previous several months.
Average wholesale price for gasoline has generally been at or below $2.87 since Jan. 14,