The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed dropping Tuesday, decreasing eight-tenths of a cent to $4.571.
A five-day streak of decreases totaling 3.2 cents ended Monday when the average price was unchanged, according to figures from the AAA and Oil Price Information Service.
The average price is 4 cents less than one week ago, 1 cent lower than one month ago and $1.011 below what it was one year ago. It has dropped $1.923 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped for the seventh consecutive day, decreasing 1.2 cents to $4.489. It has dropped 6.3 cents over the past seven days, including two-tenths of a cent Monday. The streak follows four consecutive increases totaling 3.9 cents
The Orange County average price is 1.9 cents less than one month ago and 89.8 cents lower than one year ago. It has dropped $1.97 since rising to a record $6.459 on Oct. 5, 2022.
The national average price dropped for the sixth consecutive day, decreasing 1.2 cents to $3.163. It has dropped 4.1 cents over the past six days, including two-tenths of a cent of a cent Monday.
The national average price is 4 cents less than one week ago, 4.5 cents lower than one month ago and 38.7 cents below what it was one year ago. It has dropped $1.853 since rising to a record $5.016 on June 14, 2022.
“The median U.S. price for gasoline has just slipped below the $3 per gallon mark for the first time since early 2024, while the national average price of gasoline has returned to decline as oil prices have begun to cool off after Iran’s attack on Israel, due in part to sources saying Israel has agreed not to attack Iran’s oil infrastructure,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“With the potential of an attack on Iran’s oil infrastructure decreasing as a result, the risk calculus for oil is decreasing and with continued economic weakness in China providing bearish sentiment, oil prices late last week slipped back below the $70 per barrel mark, opening the door for a longer decline to potentially return to the national average.”