The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the fifth consecutive day following a seven-day stretch of increases totaling 75.7 cents, decreasing four- tenths of a cent to $4.262.
The average price has dropped 4 cents over the past five days, including six-tenths of a cent on Monday, after rising to its highest amount since May 4, 2014, according to figures from the AAA and Oil Price Information Service.
The average price is 5.8 cents more than one week ago, 65.3 cents higher than one month ago and 19.9 cents above what it was one year ago.
The Orange County average price dropped for the fifth consecutive day following a seven-day stretch of increases totaling 77.8 cents, decreasing 1 cent to $4.234. It has dropped 4.1 cents over the past five days, including eight-tenths of a cent on Monday, after rising to its highest amount since May 6, 2014.
The Orange County average price is 5.8 cents more than one week ago, 69.6 cents higher than one month ago and 19.8 cents above what it was one year ago.
The statewide average price for a gallon of self-serve regular gasoline was the highest in the nation, $3.872, 39.8 cents more than the second-highest state, Alaska, where the average price was $3.474. The second-highest average in the continental United States was Nevada, where the average was $3.258.
California’s high prices are “largely due to imbalances between gasoline supply and demand,” according to Michael Green, AAA’s manager of public relations.
“A lack of imports and the blending components used to make CARBOB, the state’s mandated specialty fuel, are also reported to be dwindling and retail averages are expected to remain high,” Green said.
“Ongoing refinery problems, particularly at the ExxonMobil facility in Torrance, also are playing a significant role in California’s gas prices.”
—City News Service