Gasoline Industry

Gasoline prices continue to drop

Gasoline prices continue to drop

How low can gas prices go?

In Southern California — and across the country — prices have been dropping for months, placing extra dollars in consumers' wallets. This week the average price for a gallon of regular hit $3.24 in Los Angeles and Long Beach, the lowest in four years, according to AAA. In Orange County, it was $3.19.

Energy analysts say it may go lower.

"We could see gasoline prices in the high 2s," said Amy Myers Jaffe, executive director of energy and sustainability at UC Davis.

Several factors are likely to get prices there, Jaffe said.

Oil production in the United States — driven by the nation's shale oil boom —...