gasoline station
MNLA photo by Clancy O'Dessky

The average price of a gallon of self-serve regular gasoline in Orange County dropped Wednesday to its lowest amount since Nov. 12, 2021, decreasing 5 cents to $4.619.

The Orange County average price has dropped for 26 consecutive days and 60 times in 63 days since rising to a record $6.357 on Oct. 5, according to figures from the AAA and the Oil Price Information Service.

The Orange County average price has fallen $1.738 over the past 63 days, including 5.4 cents Tuesday. It is 27.9 cents less than one week ago, 80.1 cents lower than one month ago and 4.2 cents below what it was one year ago.

The Los Angeles County average price dropped to its lowest amount since Feb. 11, decreasing 4.6 cents to $4.752. It has dropped 27 consecutive days and 60 times in 63 days since rising to a record $6.494 on Oct. 5, falling $1.742.

The Los Angeles County average price is 26.8 cents less than one week ago and 77.2 cents lower than one month ago, but 6.5 cents more than one year ago.

“Gas prices are dropping sharply,” said Andrew Gross, an AAA national public relations manager. “But with oil being the main ingredient in gasoline, OPEC+’s move could slow this decline. However, the gas price will likely soon be lower than it was a year ago.”

OPCE+, a group of nations that allied with OPEC to cut production in order to boost oil prices beginning in 2016, announced plans Sunday to stick to its oil production cuts rather than taking steps to take more supply offline.

The national average price dropped for the 28th consecutive day, decreasing 2.5 cents to $3.355. It is 14 cents less than one week ago and 44.9 cents lower than one month ago, but six-tenths of a cent more than one year ago.

The national average price has dropped 45 cents over the past 28 days, including 2.3 cents Tuesday. It is $1.661 lower than the record $5.016 set June 14.

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