The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped six-tenths of a cent Sunday to $4.588, its lowest amount since Feb. 5.
The average price has dropped for six consecutive days, decreasing 6.2 cents, including a half-cent Saturday, according to figures from AAA and the Oil Price Information Service. It is 5.5 cents less than one week ago, 19 cents less than one month ago and 19.3 cents less than one year ago. The average price has dropped $1.905 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price dropped two-tenths of a cent to $4.509, its lowest amount since Feb. 4. It has also dropped for six consecutive days, decreasing 6.4 cents, including 1.6 cents Saturday. The Orange County average price is 6.3 cents less than one week ago, 17.9 cents less than one month ago and 17.4 cents less than one year ago. It has dropped $1.949 since rising to a record $6.458 on Oct. 5, 2022.
“While oil prices are lower after the Middle East ceasefire, California faces some tax and fee increases July 1 that could push up pump prices starting Tuesday,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manage, said in a statement.
“The state’s excise tax increases by 1.6 cents a gallon on Tuesday. Also on that date, stricter air quality regulations are taking effect that will require gasoline producers to either drastically reduce carbon emissions from the fuel they produce, or purchase `emission credits’ from the state. It’s unknown how much that will add to the cost of gasoline.”
The national average price dropped for the fourth consecutive day following a run of 14 increases in 15 days, decreasing seven-tenths of a cent to $3.187. It is 3.1 cents less than one week ago, 2.1 cents more than one month ago, and 30.9 cents less than one year ago. The national average price has dropped $1.829 since rising to a record $5.016 on June 14, 2022.