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Gas Prices See Largest Daily Decrease in Two Years

A supply shortage in early October forced a Marina del Rey gas station to shut down.

Motorists throughout Los Angeles are paying a lot less for gasoline on Thursday compared to earlier in October, as L.A. County recorded the largest daily decrease in the last two years, 4.5 cents, bringing the average gallon of unleaded to $4.35. 

In Marina del Rey, Costco Wholesale Corp’s gas station was temporarily shut down on Oct. 4 due to supply issues, and at the time, the most inexpensive gallon of gas cost $4.65 for regular at United Oil, located at 811 Washington Blvd. The price on Thursday at the same gas station was $4.15, a drop of 50 cents. 

The average price of gas has dropped for 16 consecutive days after rising over 50 cents the previous seven days to a high of $4.70, according to AAA.

On Oct. 8, Gov. Jerry Brown ordered California smog regulators to allow a winter-blend gasoline to ease the spike in prices due to wholesale shortages. Typically, the winter-blend, that burns cleaner only at cooler temperatures, is not sold until after Halloween.

Despite the significant drop in the last two weeks, gasoline prices in Los Angeles County are up 48 cents compared to a year ago.

 

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