Gas prices down - finally

It's taken a while - and it might not last long - but there's been a significant drop in the past two weeks. The government's latest survey shows that the average price of regular in the L.A. area is $3.112, down 9 cents from last week and 16 cents from two weeks ago. Up to now, the numbers have remained stubbornly high, despite there being lots of supply on hand and soft demand. That, of course, has gotten the conspiracy theorists on a tear. Whatever the explanation, you might want to fill up pretty soon - prices are likely to start climbing in the next few weeks as refiners begin switching over to summer fuel blends, a process that can be disruptive to refinery operations. And you know what that means.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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