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Los Angeles Gas Prices Drop To Nearly 5-Year Low

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Dec 2, 2008 9:53 am US/Pacific

Los Angeles Gas Prices Drop To Nearly 5-Year Low

LOS ANGELES The average price of gasoline in Los Angeles County fell Tuesday to its lowest level since February 2004, decreasing 2.6 cents to $1.961 -- the 77th consecutive daily decline.

The average price is 18.4 cents less than a week ago, 92.1 cents less than a month ago, $1.40 less than at this time last year and $2.66 less than the record high of $4.626 set on June 21, the Oil Price Information Service reported.

The Orange County average price fell 1.9 cents Tuesday to $1.93, 19 cents less than a week ago, 90.9 cents less than a month ago, $1.40 less than at this time last year and $2.67 less than the record high of $4.598 set on June 19.

(© 2008 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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