Jun 28, 2008 11:18 am US/Pacific
Feel The Windfall! Gas Prices Drop About 1 Cent!!
First Time In 7 Weeks, Price Of Unleaded Gas Has Dropped
LOS ANGELES
Get ready for something rare: good news regarding gas prices.
Okay, the good news is relative. Like you're a kid and you just got a huge package in the mail at Christmas time ... only to find out it's filled with underwear from your aunt Erma.
The good news: gas prices are plummeting. Well, not exactly plummeting. But the price of unleaded dipped for the first time in seven weeks. Gas is now an average of 1.6 cents cheaper.
Hey, it's a start!
The price in Los Angeles County now averages $4.617 per gallon, according to the Automobile Club of Southern California, and that's down about a penny from last week.
Orange County is $4.582, down even more, 1.6 cents to be exact, the Auto Club said.
A bigger drop occurred in San Diego County, where the $4.603 average is 2.6 cents less than last week.
And in the Inland Empire, the average gallon sells for $4.599 in Riverside and San Bernardino counties, down 1.3 cents over the last week.
"Around the country, gas prices are backing down very slowly," said Auto Club spokesman Jeffrey Spring. "Unfortunately, the pricing situation remains very volatile and there's no way to know whether this is the start of a true price decline or if it's just a plateau."
(© 2008 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)
