The average price of a gallon of self-serve regular gasoline in Los Angeles County declined seven-tenths of a cent Tuesday to $4.512, its lowest amount since Jan. 31.
The average price is 3.7 cents less than one week ago, 13.8 cents less than one month ago and 22.7 cents less than one year ago, according to figures from AAA and the Oil Price Information Service. It has dropped $1.981 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price dropped 1 cent to $4.451, its lowest amount since Jan. 30. The Orange County average price is 3.6 cents less than one week ago, 11.5 cents less than one month ago and 20.3 cents less than one year ago. It has dropped $2.007 since rising to a record $6.458 on Oct. 5, 2022.
The national average price fell three-tenths of a cent to $3.15. It is one-tenth of a cent more than one week ago and 1.5 cents more than one month ago, but 37 cents less than one year ago. The national average price has dropped $1.866 since rising to a record $5.016 on June 14, 2022.
“With oil prices posting a modest uptick last week, the national average price of gasoline also inched slightly higher, with just over half of U.S. states seeing increases, while nearly two dozen saw declines,” 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 Monday.
“As we approach the midpoint of the summer driving season, gasoline inventories remain just below average. While renewed tariff discussions could weigh on oil markets due to concerns about economic growth, absent any major developments, we expect the national average to remain rangebound in the low-$3 per gallon area, where it has spent much of the summer,” he added.