Gas Prices Falling

Prices were at record highs last week in Orange County, but they have fallen in the past three days.

There may be some relief in sight as the average price of a gallon of self-serve, regular gasoline is down 1.4 cents to around $4.66 in Orange County.

In Los Angeles County, the average price for a gallon of self-serve, regular is around $4.68, about one-cent less than Friday.

It's the third day of declining prices in both counties.

Here is a round-up of prices at some gas stations around Orange County:












--City News Service contributed to this report.

stefanie October 14, 2012 at 02:51 PM
Prices go up $0.20 a day, but drops $.014 cents in 3 days and we are excited about this?
Homer October 14, 2012 at 07:54 PM
Exactly. I would speculate that the station operators reduce the pump price slower than the wholesale cost to make up for the sharp rises. The rapid wholesale cost increases cut into their profit margin. It seems to be the only way to stay in business and cope with the price gouging by the refineries and market speculators.
Homer October 14, 2012 at 07:59 PM
In previous years the price would rise in the winter. Why? Because the refineries would say it was more expensive to change the refining process and include the winter blend additives to comply with CARB rules. The unanswered question is; what rule did California Governor Jerry Brown override to allow the market release of "winter blend" gasoline prior to the scheduled date ???
Judy October 15, 2012 at 05:19 AM
I have tuned up my windmill, and getting good wind mileage now, the gas prices are fluctuating. Natural compressed gas is the way to go, although I would miss my windmil.
Homer October 24, 2012 at 05:50 AM
Costco gas has dropped to $3.99/gallon for regular. The corner stations are at $4.44/gallon for regular. This latter pricing reflects the asymptotic curve that the local operators employ to recover their losses associated with the sharp rises in wholesale costs.


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