The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Saturday for the 15th time in 16 days, falling 2.8 cents to $6.241.
The average price has decreased 19.8 cents over the past 16 days, including 1.7 cents Friday, according to figures from the AAA and Oil Price Information Service. The run of decreases follows a 44-day streak of increases totaling 79.7 cents that brought the average price within 5.4 cents of its record high, $6.493, set Oct. 5, 2022.
The average price is 10.9 cents less than one week ago, but 10.6 cents more than one month ago and $1.551 more than one year ago. It has increased $1.547 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 Orange County average price dropped for the 16th consecutive day, falling 2.6 cents to $6.175. It has dropped 23.2 cents over the past 16 days, including 1.6 cents Friday.
The streak of decreases follows a run of 42 increases in 44 days totaling 83.7 cents, that pushed it within 5.3 cents of its record high, $6.458, set Oct. 5, 2022.
The Orange County average price is 11.5 cents less than one week ago, but 6 cents more than one month ago and $1.513 more than one year ago. It has increased $1.539 since the start of the war on Iran.
The dropping prices are the result of Gov. Gavin Newsom’s announcement Sept. 28 that cheaper winter-blend gasoline would be allowed to be sold immediately instead of the customary Nov. 1 date.
“California continues to be the only state with an average price above $6 a gallon, and Hawaii, Nevada and Washington are the only three states with average prices above $5 a gallon,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“Los Angeles wholesale gas prices have dropped significantly in the last couple of weeks, so there is plenty of momentum for pump prices to drop further in coming weeks as long as no supply issues occur.”
The national average price dropped nine-tenths of a cent to $4.308. It is 5.8 cents less than one week ago and 13 cents less than one month ago, but $1.257 more than one year ago. It has increased $1.326 since the attack on Iran.