The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the seventh time in eight days, decreasing 1 cent to $4.78.
The average price has dropped 5.6 cents over the past eight days, including two-tenths of a cent on Monday, according to figures from the AAA and the Oil Price Information Service. It decreased five consecutive days, was unchanged on Sunday and resumed dropping on Monday.
The average price is 4.3 cents less than one week ago and 58.6 cents lower than one year ago but 1.6 cents more than one month ago. It has dropped $1.713 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price resumed decreasing, dropping six-tenths of a cent to $4.738, one day after a run of 20 decreases in 21 days totaling 14.9 cents ended when it rose four-tenths of a cent.
The Orange County average price is 3.1 cents less than one week ago and 54.7 cents lower than one year ago but one-tenth of a cent more than one month ago. It has dropped $1.72 since rising to a record $6.458 on Oct. 5, 2022.
The national average price rose 1.1 cents to $3.16, one day after remaining unchanged. It is six-tenths of a cents less than one week ago and 49.9 cents lower than one year ago but two-tenths of a cent more than one month ago.
The national average price has dropped $1.856 since rising to a record $5.016 on June 14, 2022.
“Average gasoline prices in the U.S. have been volatile over the past week, with roughly half of the 50 states seeing prices decline while the other half experienced increases,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“Oil prices, which had fallen into the $50 per barrel range at the height of (President Donald) Trump’s trade war, have since rallied and are now holding in the low $60s, leading to rising gas prices in some states.
“For now, I expect the national average to bounce around in the $3.10 to $3.20 per gallon range over the coming week, with a continued mixed bag for consumers — about half of the states may see prices inch lower, while the other half could experience increases. We’ll be watching for any market developments, but for now, the market appears to be in a holding pattern.”