The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Sunday for the 12th consecutive day, falling 3.3 cents to $4.486.
The average price has dropped 21.9 cents over the past 12 days, including 3.7 cents on Saturday. Nevertheless, prices are dropping much more slowly than they rose over the previous seven days, when they increased 50.4 cents to a record high of $4.705, according to figures from the AAA and Oil Price Information Service.
The average price is 17 cents less than one week ago, but 33.2 cents more than one month ago and 59.3 cents higher than one year ago.
The sharply dropping pump prices are the result of significant decreases to the price of wholesale gasoline, according to Jeffrey Spring of the Automobile Club of Southern California said.