The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the eighth consecutive day, decreasing 1 cent to $4.818.
The average price has dropped 6.9 cents over the past eight days, including three-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service.
The eight consecutive decreases follow a 12-day streak of increases totaling 26.4 cents that boosted the average price to its highest amount since April 10
The average price is 5.7 cents less than one week ago but 13.5 cents more than one month ago and 34.9 cents higher than one year ago. It has dropped $1.665 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price also dropped for the eighth consecutive day, decreasing 1.3 cents to $4.757. It has dropped 9.7 cents over the past eight days, including six-tenths of a cent Monday.
The Orange County average price is 7.6 cents less than one week ago but 10.8 cents more than one month ago and 38.6 cents higher than one year ago. It has dropped $1.701 since rising to a record $6.458 on Oct. 5, 2022.
The 11-day streak of increases totaling 28.6 cents that boosted the Orange County average price to its highest amount since April 9 ended Nov 10 when it was unchanged.
The national average price rose four-tenths of a cent to $3.077, one day after increasing one-tenth of a cent. It is a half-cent more than one week ago, 3.6 cents higher than one month ago and six-tenths of a cent greater than one year ago.
The national average price has dropped $1.939 since rising to a record $5.016 on June 14, 2022.
“With oil prices mostly stable near the $60 per barrel level, we’ve seen the national average move very little over the last few weeks,” 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.
“Roughly half of all states saw prices rise in the last week, while the other half saw prices fall. The West Coast should soon see notable price relief as wholesale prices drop amidst seasonally declining demand.
“With refinery maintenance nearing completion, we’ll likely see supply improve — and I’m hopeful this will bring the national average solidly below $3 per gallon by Christmas.”