The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped to its lowest amount since July 28, 2021, Tuesday, decreasing 1 cent to $4.36 after back-to-back increases totaling a half-cent.
The average price had dropped seven times in eight days, decreasing 6.9 cents, then rose two-tenths of a cent Sunday and three-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 5 cents less than one week ago, 18.2 cents lower than one month ago and 8.9 cents below what it was one year ago. It has dropped $2.134 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped to its lowest amount since June 24, 2021, decreasing two-tenths of a cent to $4.238. It has dropped 10 of the past 11 days, decreasing 7.6 cents. It dropped eight consecutive days, rose one-tenth of a cent Sunday and resume decreasing Monday.
The Orange County average price is 5.7 cents less than one week ago, 20.7 cents lower than one month ago and 14.5 cents below what it was one year ago. It has dropped $2.221 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose for the second consecutive day following a three-day streak of decreases totaling 2.4 cents, rising 2.4 cents to $2.82. It is a half-cent more than one week ago but 9.7 cents less than one month ago and 24.5 cents lower than one year ago.
The national average price has dropped $2.196 since rising to a record $5.016 on June 14, 2022.
“While the situation in Venezuela has dominated headlines, it’s far too early for any measurable impact on what consumers are paying at the pump — whether prices go up or down — as it would likely take years to see a meaningful increase in oil output there,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.
“For now, gas prices remain seasonally lower, but with oil prices inching higher, the national average could soon see some limited upward movement.”