Down, down, down

The average price of regular in the L.A. area is now $4.03 a gallon. That's eight cents lower than last week and 58 cents lower than its peak in mid-June. Expect further drops, assuming a hurricane doesn't knock out production in the Gulf. Oil finished the day at under $113 a barrel. Here's the government's latest release. For what it’s worth, Merrill Lynch Vice Chairman Tom Petrie told CNBC that oil prices will reach about $80 a barrel in the coming months.


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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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