The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Saturday for the 39th time in the last 40 days, decreasing seven-tenths of a cent to $4.821, its lowest amount since Feb. 27.
The average price has dropped 49.5 cents over the past 40 days, including 1.1 cents Friday, according to figures from the AAA and Oil Price Information Service. It is 8.3 cents less than one week ago, 40.6 cents less than one month ago, 12.2 cents less than one year ago, and has dropped $1.673 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped for the 32nd time in the last 33 days, decreasing 1.4 cents to $4.693, its lowest amount since Feb. 9. The average price has dropped 45.7 cents over the past 33 days, including 1.6 cents Friday. It is 10.8 cents less than one week ago, 45 cents less than one month ago, 18.4 cents less than one year ago, and has dropped $1.766 since rising to a record $6.459 on Oct. 5, 2022.
“Oil Price Information Service reports the latest Energy Information Administration data shows that West Coast refinery utilization rates reached their highest production levels of 2024 at the beginning of this month,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“California continues to have the highest gas prices in the U.S., but this week for the first time since March, gas prices in most local areas are lower than at this time a year ago,” he added.
The national average price dropped seven-tenths of a cent to $3.452. It is four-tenths of a cent less than one week ago, 15.5 cents less than one month ago, 13.7 cents less than one year ago, and has dropped $1.564 since rising to a record $5.016 on June 14, 2022.