Gas Prices Dip Again

The 32nd consecutive day of falling prices puts the O.C. average at about $3.90, the lowest since early August.

The average price of gasoline in Orange County decreased Friday for the 32nd consecutive day, falling 2.2 cents to $3.877, its lowest amount since Aug. 7.

The average price has decreased 81.3 cents over the past 32 days, including 2.1 cents Thursday, after rising 51.3 cents over the previous six days to a record high of $4.69 on Oct. 8, according to figures from the AAA and Oil Price Information Service.

The Orange County average price is 16.2 cents less than one week ago and 81.2 cents lower than one month ago, but 3.6 cents more than one year ago.

"After one of the sharpest and quickest gas price spikes ever, we have also experienced one of the fastest price drops," said Jeffrey Spring of the Automobile Club of Southern California.

"Wholesale California gasoline prices have ticked up in recent days, but there is still plenty of room for retail prices to drop."

The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased today for the 31st consecutive day, falling 2.1 cents to $3.94, its lowest amount since Aug. 8.

--City News Service

Lash LaRue November 10, 2012 at 01:31 AM
The economy has taken a toll on two long-established family businesses in Luzerne County. Bartikowsky Jewelers, a landmark business in downtown Wilkes-Barre for 125 years, will close its doors in January and is starting a "going out of business" sale on Tuesday, owners Lynn and Mac Ahmad said today. Twenty-five people will lose their jobs and many of them have been employed by the business for decades, they said. Penn Refrigeration in Hanover Township, which has been in business for 68 years, is laying off about 30 employees as of 3:30 p.m. today, co-owner Al Finarelli Jr. said today. He blamed the layoffs on the economy. "All we can say is we had a major layoff and more information will follow," Finarelli said. "We're early in the process and we don't know what direction we're going."
Shripathi Kamath November 10, 2012 at 07:13 AM
There goes the market reacting to Nobama's re-election. You know what declining gas prices are a sign of? That's right, lowered demand caused by lowered manufacturing output which means a weakening economy. (also no iPad this Christmas) It is true, because Stuart Varney said it, and he is not into all that gobbledy-gook science stuff. He uses common sense. Gas prices falling 81 cents over the last month is not an accident. It is a sign! NOBAMA WRECKS THE ECONOMY AGAIN! The sad part of this is that he is going on an apology tour to Asia next week. When he does that, after he finishes apologizing to our allies and enemies and China, he'll make the prices go higher. There is a new switch on AirForce Uno (new name, you can guess why) that does this. Once they go high, people who have been laid off by the job creators, because Obamacare, will find it hard to buy gas to go get their groceries which will be costlier because inflation. Thanks Demon-crats, thanks a lot!


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