The average price of a gallon of self-serve regular gasoline in Los Angeles County rose two-tenths of a cent Saturday to $4.675, one day after increasing one-tenth of a cent.
The average price is unchanged from one week ago, 3.7 cents lower than one month ago but $1.469 more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped 4.1 cents since hitting the record high of $4.716 on Nov. 27.
The Orange County average price rose one-tenth of a cent for the second consecutive day to $4.639. It is a half-cent less than one week ago and 4.2 cents lower than one month ago but $1.451 higher than one year ago. The Orange County average price has dropped 5 cents since moving within one-tenth of a cent of equaling its record high Nov. 26.
The average prices have dropped from their highs for the year because of lower demand and reduced oil prices.
Despite an increase of $1.03 in the most recent trading session Thursday to $73.79, the price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has dropped 12.8% from its 52-week high of $84.65 hit on Oct. 26.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.