Orange County’s average gasoline prices fell 3.5 cents over the past week — an average half-penny a day — the Automobile Club of Southern California reports.
The average cost of a gallon of regular dipped for the third straight week to $4.524 in Orange County on Thursday, the cut-off time for AAA’s weekly report. O.C. prices dipped another penny overnight to an average $4.513 per gallon.
The record price of $4.598 was set June 19.
But don’t expect prices to stay low for long. Trading of crude in New York jumped again Friday, trading above $143 a barrel for August futures. The New York Mercantile Exchange had closed at $136.77 on Thursday.
“Gas prices have dropped by about half a penny a day in most areas this last week,” said Auto Club spokesperson Jeffrey Spring. “Often when prices hover at near-record levels as they are now, we see average prices that are very similar in different areas. The difference between the lowest and the highest gas price averages in Southern California is less than 10 cents right now.”
To see the latest averages in California, CLICK HERE.
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up $1, down 3.5c……. sounds about right