The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the seventh time in eight days, decreasing 1.8 cents to $4.698.
The average price has dropped 7.3 cents over the past eight days, including one-tenth of a cent Monday, according to figures from the AAA and the Oil Price Information Service. It decreased three consecutive days, was unchanged Friday and resumed dropping Saturday.
The run began one day after a 13-day streak of decreases totaling 11.6 cents ended when the average price was unchanged.
The average price is 5.7 cents less than one week ago and 6.3 cents lower than one month ago but 25.2 cents more than one year ago. It has dropped $1.795 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price also dropped for the seventh time in eight days, decreasing 1.8 cents to $4.625. It has dropped 8.7 cents over the past eight days, including nine-tenths of a cent Monday.
The average price dropped five consecutive days, rose a half-cent Saturday and resumed decreasing Sunday. The run began one day after the end of a 12-day streak of decreases totaling 13.9 cents.
The average price is 6.3 cents less than one week ago and 10.2 cents lower than one month ago but 25.4 cents more than one year ago. It has dropped $1.833 since rising to a record $6.458 on Oct. 5, 2022.
The national average price dropped for the 12th consecutive day, decreasing three-tenths of a cent to $2.998. It has dropped 10.2 cents over the past 12 days, including four-tenths of a cent Monday.
The streak of dropping national prices follows a four-day streak of increases totaling 2.8 cents.
The national average price is 5.7 cents less than one week ago, 3.8 cents lower than one month ago and 4.9 cents below what it was one year ago. It has dropped $2.018 since rising to a record $5.016 on June 14, 2022.
“Nearly every state saw average gas prices fall heading into Thanksgiving,” 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.
“With refinery maintenance largely complete and OPEC increasing oil production for December, oil prices have struggled. Combine those factors and you have a solid recipe for continued downward pressure on gas prices in the weeks ahead.
“A few dozen stations are already offering gas under $2 per gallon, and we could see that number grow as we move further into the holiday season. It couldn’t come at a better time for Americans — with relief arriving just as the holidays kick off.”