The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent Sunday to $4.706, after increasing 14 of the previous 15 days to its highest amount since June 5.
The average price is 4.6 cents more than one week ago, 24 cents more than one month ago and 9.6 cents more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.787 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price rose eight-tenths of a cent to $4.70, its highest amount since May 28. It has increased 24 of the last 25 days, rising 25.8 cents. The Orange County average price is 6.3 cents more than one week ago, 27 cents more than one month ago and 16 cents more than one year ago. It has dropped $1.758 since rising to a record $6.458 on Oct. 5, 2022.
The national average price dropped three-tenths of a cent to $3.175. It is 2.2 cents less than one week ago, 1.5 cents more than one month ago and 4.1 cents less than one year ago. The national average price has dropped $1.841 since rising to a record $5.016 on June 14, 2022.
“As drivers settle into their fall routines, gas demand is going down, and eventually, pump prices should follow suit. … There remains an abundance of crude oil supply which is outweighing demand. The seasonal transition to winter-blend gasoline — which is cheaper to produce — is also beginning,” the AAA said in a statement Thursday.