Gas prices on the way down....for now

Southland gasoline prices fell for the 11th time in the past 12 weeks this week, dropping below $3 per gallon in Orange County, despite crude oil prices rising to a record high, the Automobile Club of Southern California reported Friday.

The average price of a gallon of self-serve unleaded regular now stands at $3.015 in the Los Angeles-Long Beach area -- 5.6 cents less than last week, 11 cents less than last month and 23 cents less than at this time last year, according to the Auto Club’s Weekend Gas Watch survey of gas stations.

The average price dropped 3.9 cents from July 20-27 after a 1.1 cent increase from July 13-20 ended a streak of nine consecutive weekly declines.

Source: news wires

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