The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday to its lowest amount since July 16, 2021, decreasing three-tenths of a cent to $4.348.
The average price is seven-tenths of a cent less than one week ago, 11.8 cents lower than one month ago and 14.8 cents below what it was one year ago, according to figures from the AAA and Oil Price Information Service.
The average price has dropped $2.146 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped to its lowest amount since June 22, 2021, decreasing a half-cent to $4.223. It is 1.5 cents less than one week ago, 13.4 cents lower than one month ago and 21.9 cents below what it was one year ago.
The Orange County average price has dropped $2.236 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose 1.1 cents to $2.833, after dropping four of the past five days, decreasing 2.2 cents, including three-tenths of a cent Tuesday. It is seven-tenths of a cent less than one week ago, 2.5 cents lower than one month ago and 29.3 cents below what it was one year ago.
The national average price has dropped $2.183 since rising to a record $5.016 on June 14, 2022.
“After seven straight weeks of declines, the national average price of gasoline has moved higher, breaking the streak as oil prices have climbed back near $60 per barrel after dipping into the mid-$50s,” 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.
“There’s still a window of opportunity to revisit — or even beat — recent gas price lows, but that window will begin to close soon. California will soon start transitioning back to cleaner summer gasoline, with most of the rest of the country following in a little over a month.
“However, with a surplus of winter gasoline built up after large inventory increases in recent weeks, we’re likely to see localized discounts as that fuel is cleared from the system before the seasonal rise becomes more organized in the weeks ahead.”