The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1.2 cents Tuesday to $5.072, its largest decrease since July 2, one day after remaining unchanged.
The average price is one-tenth of a cent more than one week ago, 30.5 cents higher than one month ago and $1.234 greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price has increased $1.008 since the start of the joint U.S./Israel attack on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The Orange County average price dropped 1.1 cents to $5.658, one day after rising two-tenths of a cent. It is nine-tenths of a cent more than one week ago, 38.5 cents higher than one month ago and $1.249 greater than one year ago.
The Orange County average price has increased $1.022 since the attack on Iran.
The national average price dropped for the fourth consecutive day, decreasing six-tenths of a cent to $4.089. It has dropped 1.7 cents, including one-tenth of a cent Monday, after back-to-back increases totaling 1.5 cents.
The national average price is 1 cent less than one week ago, but 27.9 cents more than one month ago and 93.6 cents higher than one year ago. It has increased $1.107 since the attack on Iran.
“Average gasoline prices were a mixed bag across the country last week as oil markets went on a wild ride, surging on geopolitical tensions before pulling back Sunday night after President (Donald) Trump signaled a potential deal may be in the works,” 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 Monday.
“However, even as oil prices ease on deal optimism, continued Ukrainian attacks on Russian oil infrastructure are driving refined product prices higher as output plummets, keeping upward pressure on what Americans pay at the pump.
“By later this week, the national average could reach its highest level ever recorded for this point in the calendar year, a sobering milestone even as prices remain well below the all-time record set in 2022. Motorists should keep a close eye on developments both in the Middle East and in Ukraine, as either front could quickly shift the outlook.”