The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the eighth consecutive day, decreasing six-tenths of a cent to $5.655.
The average price has dropped 5.9 cents over the past eight days, including two-tenths of a cent Sunday and one-tenth of a cent Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 4.7 cents less than one week ago but 24.6 cents more than one month ago and $1.186 higher than one year ago. It has increased 96.1 cents 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 six-tenths of a cent to $5.598, one day after a six-day streak of decreases totaling 6.6 cents ended with an increase of two-tenths of a cent. It is 5.9 cents less than one week ago but 29.1 cents more than one month ago and $1.178 higher than one year ago.
The Orange County average price has increased 96.2 cents since the start of the attack on Iran.
The 10-day streak of decreases to the national average price, totaling 9.7 cents ended with an increase of two-tenths of a cent to $4.011. It is 7.8 cents less than one week ago, but 12.9 cents more than one month ago and 87.3 cents higher than one year ago.
The national average price has increased $1.029 since the attack on Iran.
“Average gasoline prices declined in 47 states over the last week … with the national average price of gasoline posting a double-digit drop per gallon,” 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.
“Iran is pushing back against a reopening of the Strait of Hormuz, and oil prices edged modestly higher in Sunday night trading, signaling that the recent relief may not last. With the Strait remaining closed, upward pressure on fuel prices could return quickly, and if things don’t go well, the national average could climb to its highest level ever recorded this late in the calendar year.
“For now, enjoy the dip, but keep a close eye on how the Strait situation develops in the days ahead.”