Analysts: Tumbling Gas Prices Are A Sign Of Economic Woes
LOS ANGELES (CBS) — Gas prices are down across the Southland due to the falling cost of crude oil.
While this may ease pain at the pump, financial analysts say the faltering prices are just another indication that the economy is struggling yet again.
KNX 1070′s John Brooks reports.
Prices have dipped for eight straight days, which has brought the cost of gas down 6.6 cents in just one week.
The average price for a gallon of self-serve regular gasoline is $3.74 in Los Angeles County. In Orange County, it’s slightly lower at $3.73.
However, prices are still up 59 cents from what they were at this time last year.