The average price has dropped 46.1 cents since rising to a record $6.435 on Oct. 5.
"Refinery production and imports have improved the Southern California fuel supply situation, causing wholesale prices to drop for the last few days," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
"According to Oil Price Information Service, the PBF Energy refinery in Torrance and the Wilmington portion of the Phillips 66 refinery have both started multi-week planned maintenance projects this week. However, OPIS analysts say large shipments of imported gasoline are expected to arrive on the West Coast in the coming days, which will likely offset the upward pressure on pump prices caused by the refinery maintenance.
The national average price dropped for the fourth consecutive day following an 11-day streak of increases totaling 7.8 cents, decreasing eight- tenths of a cent to $3.859. It is seven-tenths of a cent less than one week ago but a half-cent more than one month ago and 17.5 cents higher than one year ago.Tags
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