A year ago, a gallon of gas for $4.99 would seem outrageous. Today, it's a bargain. Now one SoCal gas station group is dropping prices of regular unleaded to $4.99/gallon. The local stations lowering prices to help the community. Tonight at 11 from ABC7
"I thought I was dreaming when I saw the $4.99," said Okechukwu Mbagwu."I wish it would go lower. That would help the people a lot.""Trying to support the local community, and with the support of Arco, we're making as much of a difference as possible," said Kevin Bibayan with Veer Management.
Experts said two key factors that are keeping prices elevated include concerns over less Russian oil entering the market and the massive COVID-induced economic slowdown in China, the world's leading oil consumer. The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped four-tenths of a cent Tuesday to $5.781, one day after decreasing three-tenths of a cent.
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