The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday to its lowest amount since Dec. 24, 2022, decreasing six-tenths of a cent to $4.44, one day after remaining unchanged.
The average price is 1.8 cents less than one week ago, 8.2 cents lower than one month ago and 47.8 cents below what it was one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $2.054 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped to its lowest amount since Dec. 26, 2022, decreasing 1.5 cents to $4.356, one day after rising four-tenths of a cent. It is 2.7 cents less than one week ago, 6.1 cents lower than one month ago and 39.4 cents below what it was one year ago.
The Orange County average price has dropped $2.103 since rising to a record $6.459 on Oct. 5, 2022.
The national average price dropped for the sixth consecutive day, decreasing 1 cent to $3.037. It has dropped 3.6 over the past six days, including four-tenths of a cent Monday, after back-to-back increases totaling 1.7 cents.
The national average price is 3 cents less than one week ago, 6.6 cents lower than one month ago and 20.6 cents below what it was one year ago. It has dropped $1.979 since rising to a record $5.016 on June 14, 2022.
“Millions took to the road for Thanksgiving, and while some regions, like the Great Lakes, saw gas prices rise just in time for travel, most of the nation saw prices hold mostly stable or decline slightly as the national average remains near the lowest level we’ve seen since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“The weeks ahead should feature slight drops in gas prices in most areas, with over 100,000 stations now offering a gallon for $2.99 or less, which should stick around through the holiday shopping season. While the potential impacts from tariffs are something to watch, they would have no effect until late January, if implemented at all.
“For this week, all eyes will be on the previously delayed OPEC+ meeting on Thursday. If they begin to restore oil production, oil prices could soften to the mid-$60s.”