Hooray! Gas prices fall

After several weeks of falling oil prices, gasoline is finally following suit. The Energy's Department's latest weekly survey shows that the average price of self-serve regular in L.A. is 2.556 a gallon, down from $2.620 the week before. But there's a lot of catching up to do. Crude oil in NY closed today at $51.21 a barrel, a 19-minth low. Oil prices have plunged 16 percent this year alone and 35 percent from the record-high in July. So why isn't gas a lot cheaper? Good question.



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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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