The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday to its lowest amount since Oct. 6, 2021, decreasing eight-tenths of a cent to $4.428.
The average price has dropped 41 of the past 42 days, decreasing $1.103, including 1.6 cents Wednesday, according to figures from the AAA and the Oil Price Information Service. It dropped 38 consecutive days, was unchanged Monday and resumed decreasing Tuesday.
The average price has fallen 74 times in 78 days since rising to a record $6.494 on Oct. 5, decreasing $2.066. It is 11.5 cents less than one week ago, 82.6 cents lower than one month ago and 24.4 cents below what it was one year ago.
A 40-day streak of decreases to the Orange County average price totaling $1.119 ended Thursday when it was unchanged, remaining at $4.317, 9.7 cents less than one week ago, 82.8 cents lower than one month ago and 32 cents below what it was one year ago.
The national average price dropped for the 43rd consecutive day, decreasing seven-tenths of a cent to $3.101, 9.2 cents less than one week ago, 53.5 cents lower than one month ago and 19.5 cents below what it was one year ago.
The national average price has dropped 70.4 cents over the past 43 days, including 1.5 cents Wednesday. It is $1.915 lower than the record $5.016 set June 14.
“The cost of oil, gasoline’s main ingredient, has been hovering in the low-to-mid $70s per barrel, and that’s $50 less than the peak last spring,” said Andrew Gross, an AAA national public relations manager. “Combined with low seasonal demand, gas prices could slide a bit more before leveling off.”