The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed dropping Tuesday, decreasing 2.5 cents to $5.562, one day after the run of 33 decreases in 34 days that dropped it to its lowest mount since March 14 ended when it was unchanged.
The average price dropped 62.7 cents during the run, including eight-tenths of a cent Sunday, according to figures from the AAA and Oil Price Information Service. It dropped six consecutive days, rose two-tenths of a cent May 25 and resumed decreasing May 26.
The average price is 15.8 cents less than one week ago and 61.3 cents lower than one month ago, but 91.2 cents more than one year ago.
The Orange County average price dropped for the 40th time in 41 days, falling 2.5 cents to $5.43, its lowest amount since March 13. It has dropped 76.2 cents over the past 41 days, including two-tenths of a cent Monday.
The Orange County average price dropped three consecutive days, rose one-tenth of a cent May 17 and resumed dropping May 18. It is 16 cents less than one week ago and 69.7 cents lower than one month ago but 85.7 cents more than one year ago.
A decrease of three-tenths of a cent to $3.926 extended the streak of dropping national average prices to 33 consecutive days. It has fallen 63.8 cents over the past 33 days, including nine-tenths of a cent Monday, to its lowest amount since March 21.
The national average price is 11.8 cents less than one week ago and 60.3 cents lower than one month ago, but 70.5 cents more than one year ago.
“Average gasoline prices declined in nearly every state over the last week,” 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, the outlook is far from settled. New uncertainty has emerged after Iran suggested the Strait of Hormuz was closed, along with fresh warnings that the U.S. could again strike Iran, developments that could push oil prices higher in the days ahead.
“Despite this, gasoline prices aren’t yet at significant risk of a spike, as some vessels have continued to move through the strait. Still, should the situation worsen or escalate further, motorists could see that risk change quickly.”