The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1.2 cents Wednesday to $6.395, its sixth consecutive decrease after a 44-day streak of increases that brought it within 5.4 cents of its all-time record.
The average price is 3.3 cents less than one week ago, but 48.9 cents more than one month ago and $1.666 more than one year ago, according to figures from the AAA and Oil Price Information Service. It has increased $1.701 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The record average price is $6.493 set Oct. 5, 2022.
The Orange County average price dropped 1.9 cents to $6.335, its sixth consecutive decrease after a run of 42 increases 44 days pushed it within 5.3 cents of its record high. The Orange County average price is 6.5 cents less than one week ago, but 45.3 cents more than one month ago and $1.634 more than one year ago. It has increased $1.699 since the start of the war on Iran.
The Orange County record average price is $6.458 set Oct. 5, 2022.
The dropping prices are the result of Gov. Gavin Newsom’s announcement last week that cheaper winter-blend gasoline would be allowed to be sold immediately instead of on the customary Nov. 1 date.
The national average price dropped two-tents of a cent to $4.366, one day after a 10-day streak of decreases ended with an increase of three-tenths of a cent. It is 6.8 cents less than one week ago, but 21.6 cents more than one month ago and $1.245 more than one year ago.
The national average price has increased $1.384 since the attack on Iran.