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 Wednesday to its lowest amount since Oct. 9, 2021, decreasing 1.6 cents to $4.436.

The average price has dropped 40 of the past 41 days, decreasing $1.095, including 2.1 cents Tuesday, according to figures from the AAA and the Oil Price Information Service. It dropped 38 consecutive days, was unchanged Monday and resumed decreasing Tuesday.

The average price has fallen 73 times in 77 days since rising to a record $6.494 on Oct. 5, decreasing $2.058. It is 12.9 cents less than one week ago, 86 cents lower than one month ago and 23.7 cents below what it was one year ago.

The Orange County average price dropped to its lowest amount since July 24, 2021, decreasing six-tenths of a cent to $4.317, 12.5 cents less than one week ago, 87.3 cents lower than one month ago and 32.4 cents below what it was one year ago.

The Orange County average price has dropped for 40 consecutive days, decreasing $1.119, including 1.7 cents Tuesday. It has fallen 74 times in 77 days since rising to a record $6.357 on Oct. 5, decreasing $2.04.

The national average price dropped for the 42nd consecutive day, decreasing 1.5 cents to $3.108, 10.6 cents less than one week ago, 55.4 cents lower than one month ago and 19.4 cents below what it was one year ago.

The national average price has dropped 69.7 cents over the past 42 days, including 1.9 cents Tuesday. It is $1.908 lower than the record $5.016 set June 14.

“The national average for a gallon of gasoline is down nearly $2 compared to six months ago, and heading into Christmas travel week, is at its lowest in a year and a half, saving Americans some $750 million every day,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“While the decline should take the national average under $3 per gallon in the next week or so, it is soon likely to fade as oil prices have held in the $70 per barrel range.”

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