KTLA

LA Gas Prices: Gallon of Regular Gasoline Falls Below $3

(Credit: KTLA)

Goodbye $3 gas, at least for now.

The average price for a gallon of regular dipped below $3 Wednesday in Los Angeles and Long Beach, according to the Auto Club. A year ago, a gallon averaged $3.651.

With Wednesday’s $2.987 average, the L.A. area joins the rest of Southern California, which already saw average prices fall below $3.

Oil and gasoline prices have been driven lower this year by a North American shale oil boom and a sluggish global economy. The combination has increased supplies and depressed demand.

Click here to read the full story on LATimes.com.