The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent Wednesday to $4.921, ending a streak of five consecutive days of increases. It rose six-tenths of a cent on Tuesday.
The average price is 3.3 cents more than one week ago, but 1.4 cents less than one month ago and $1.362 lower than one year ago, according to figures from the AAA and the Oil Price Information Service.
It has dropped $1.573 since rising to a record $6.494 on Oct. 5.
The Orange County average price rose one-tenth of a cent to $4.86. It is 4.6 cents more than one week ago, but 2.6 cents less than one month ago and $1.331 lower than one year ago.
The Orange County average price has dropped $1.599 since rising to a record $6.459 on Oct. 5.
The national average price dropped seven-tenths of a cent to $3.522. It is 3.4 cents less than one week ago, 3 cents less than one month ago and $1.278 less than one year ago. The national average price has dropped $1.494 since rising to a record $5.016 on June 14, 2022.
“We could see gasoline prices under some additional pressure soon, especially as we head into the closing innings of summer next month,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
” … At the halfway point of the year, the national average is right at the level we anticipated for a full-year average,” De Haan continued. “While that’s good news, I believe we may see prices close out the second half of the year below our expectations. This would be welcome news for motorists as the national average could fall below $3 per gallon this fall.”