The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the sixth consecutive day, dipping four-tenths of a cent to $5.985.
The streak is the longest since a 13-day streak from Dec. 9-21, according to figures from the AAA and Oil Price Information Service. The average price has dropped 6.3 cents over the past six days, including two-tenths of a cent on Monday.
The average price is 6.3 cents less than one week ago, but 42.3 cents more than one month ago and $1.11 more than one year ago. It is 50.9 cents less than the record $6.494 set on Oct. 5, 2022.
A six-day streak of decreases to the Orange County average price totaling 8.2 cents ended with an increase of six-tenths of a cent to $5.903. The streak was the longest since an eight-day streak from Jan. 3-10.
The Orange County average price is 7.6 cents less than one week ago, but 37.3 cents more than one month ago and $1.093 more than one year ago. It is 55.6 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 earlier this month, though subsequent peace talks in Pakistan failed to produce a deal.
The national average price resumed dropping, falling seven-tenths of a cent to $4.118, one day after a three-day streak of decreases totaling 4.1 cents ended when it was unchanged. It is 2.2 cents less than one week ago, but 44.3 cents more than one month ago and 93.4 cents more than one year ago.
The national average price is 89.8 cents less than the record $5.016 set on June 14, 2022.
“Average gasoline prices surged for many Americans through the first half of last week before easing in some areas after oil prices slipped following President (Donald) Trump’s announcement of a cease fire,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.
“However, with a breakdown in talks and renewed escalation over the weekend, motorists should prepare for another round of price increases. The move toward a full blockade of the Strait of Hormuz is compounding global supply concerns and risks further disrupting flows, which pushed oil prices sharply higher in Sunday night trading. As a result, gasoline prices are likely to jump again this week … until there is a meaningful restoration of shipping through the strait.”