Follow LA Observed on Twitter here
It's about the only place where you'll find some good news. The Auto Club's latest survey shows that the average price of regular gas in the L.A. area is $3.507 per gallon, a drop of 8.7 cents from last week. That's well over a buck a gallon lower than at those record highs a few months ago. And it'll get cheaper still: Oil is now trading under $80 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?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.