The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Monday for the fifth consecutive day, decreasing two-tenths of a cent to $5.989.
The streak is the longest since a five-day streak from Jan. 6-10, according to figures from the AAA and Oil Price Information Service. The average price has dropped 5.9 cents over the past five days, including seven-tenths of a cent on Sunday.
The average price is 5.5 cents less than one week ago, but 53 cents more than one month ago and $1.117 higher than one year ago, according to figures from the AAA and Oil Price Information Service. It is 50.5 cents less than the record $6.494 set on Oct. 5, 2022.
The Orange County average price dropped for the sixth consecutive day, deceasing four-tenths of a cent to $5.897. The streak is the longest since an eight-day streak from Jan. 3-10. The average price has dropped 8.2 cents over the past eight days, including six-tenths of a cent on Sunday.
The Orange County average price is 7.6 cents less than one week ago, but 47.5 cents more than one month ago and $1.084 higher than one year ago. It is 56.2 cents less than the record $6.459 set on Oct. 5, 2022.
Prices were rising slightly in line with seasonal norms before the joint U.S./Israel attack on Iran on Feb. 28 sent oil prices higher and drastically accelerated increases at the gas pump. Prices began to fall slightly after news of a cease fire last week, though subsequent peace talks in Pakistan failed to produce a deal.
The three-day streak of decreases to the national average price totaling 4.1 cents ended when it was unchanged, remaining at $4.125. It is six-tenths of a cent more than one week ago, 49.5 cents higher than one month ago and 93.6 cents greater than one year ago.
The national average price is 89.1 cents less than the record $5.016 set on June 14, 2022.
“The verdict is in — gas prices are likely to return to climbing with (President Donald) Trump’s new Strait (of Hormuz) block — with price cycling states likely to hike gas prices very soon — as early as tomorrow — for many areas as oil prices surge past $100 (per barrel),” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, wrote on the social platform X Sunday.
Reformulated blendstock for oxygenate blending “pointing to big surge in wholesale tmrw,” according to De Haan.
RBOB is an unfinished, refined petroleum product used to produce cleaner-burning gasoline.