The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped three-tenths of a cent Tuesday to $4.669, after changing by one-tenth of a cent or remaining unchanged for five consecutive days.
The average price is seven-tenths of a cent less than one week ago and six-tenths of a cent lower than one month ago but $1.267 higher than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price dropped one-tenth of a cent Thursday, Friday and Saturday, was unchanged Sunday and rose one-tenth of a cent Monday.
The average price has decreased 4.7 cents since hitting the record high of $4.716 on Nov. 27.
The Orange County average price was unchanged, remaining at $4.65, after decreasing seven-tenths of a cent over the previous five days. It is six-tenths of a cent less than one week ago but 1.1 cents more than one month ago and $1.267 higher than one year ago.
The Orange County average price has decreased 3.9 cents since rising to $4.689 on Nov. 26, one-tenth of a cent less than the record set on Oct. 8, 2012.
“Prices are stable, at a high level,” Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager told City News Service. “Gas prices in the region never fell at the same rate as did oil prices when the price dropped from $85 per barrel to around $64 in November and December 2021. Although oil prices have again increased, gas prices have remained flat.
“However, we’re about to go into the turnaround period when refineries start producing summer blend gasoline, which is more expensive to produce so we’ll have to see how that affects gas prices.”