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The big plunge in oil seems to be finally having its effect at the gas pump. For the week ended today, the average price of a gallon of self-serve regular was $2.506 in the L.A. area, down from $2.556 last week and $2.620 the week before. All the cities surveyed by the federal Energy Information Administration saw declines, and in Cleveland, gas was averaging under $2 a gallon. Oil fell 86 cents on the NY Mercantile Exchange today and is now at $51.13 a barrel.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.