Gas station.
A gas station in Los Angeles. Photo by MNLA Staff

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped to its lowest amount since March 4 Wednesday, decreasing 4.1 cents to $5.213.

The average price has dropped 46 times in 49 days since rising to a record $6.494 on Oct. 5, decreasing $1.281, including 4.2 cents Tuesday, according to figures from the AAA and the Oil Price Information Service. It is 25 cents less than one week ago and 60.1 cents lower than one month ago, but 50.9 cents more than one year ago.

The Orange County average price dropped 4.5 cents to $5.10, its lowest amount since March 3. It has dropped 43 times in 49 days since rising to a record $6.357 on Oct. 5, decreasing $1.257, including 4.5 cents Tuesday. The Orange County average price is 25.7 cents less than one week ago and 58.2 cents lower than one month ago, but 42.6 cents more than one year ago.

The national average price dropped for the 14th consecutive day, decreasing 2.7 cents to $3.609. It is 13.4 cents less than one week ago and 18.6 cents lower than one month ago, but 20.6 cents more than one year ago.

The national average price has dropped 19.6 cents over the past 14 days, including 2.6 cents Tuesday. It is $1.407 lower than the record $5.016 set June 14.

“Everyone will be seeing relief at the pump this week, with even more substantial declines on the way as oil prices plummeted last week to briefly trade under $80 per barrel,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“Drivers shouldn’t be in a rush to fill up as prices will come down nearly coast-to-coast into the heavily traveled Thanksgiving holiday.”

Leave a comment

Your email address will not be published. Required fields are marked *