The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday for the ninth time in 10 days, decreasing a half-cent to $4.926.
The average price has dropped 4.8 cents over the past 10 days, including two-tenths of a cent Tuesday, according to figures from the AAA and the Oil Price Information Service. It is 2.8 cents less than one week ago and $1.477 lower than one year ago but 6.7 cents more than one month ago.
The average price has dropped $1.568 since rising to a record $6.494 on Oct. 5.
The Orange County average price dropped for the ninth time in 11 days, decreasing six-tenths of a cent to $4.852. It has dropped 6.6 cents over the past 11 days and $1.607 since rising to a record $6.459 on Oct. 5.
The Orange County average price is 3.7 cents less than one week and $1.482 lower than one year ago but 2.7 cents more than one month ago.
A run of seven decreases in eight days to the national average price totaling 1.7 cents ended with an increase of four-tenths of a cent to $3.581. It is 1 cent less than one week ago and $1.387 lower than one year ago but 4.2 cents more than one month ago.
The national average price has dropped $1.435 since rising to a record $5.016 on June 14, 2022.
“It has been a quiet week for the national average, with little overall movement in average gas prices nationally even as oil prices have been a bit unstable,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“While the uncertainty over the direction of the economy is a major player in preventing oil’s rise, inventories of oil and gasoline do remain tight, preventing much additional downward movement as well.”