The average price of a gallon of self-serve regular gasoline in Los Angeles County fell eight-tenths of a cent Tuesday to $4.484, its lowest amount since Jan. 16.
The average price is 2.8 cents less than one week ago, 15.9 cents less than one month ago and 17 cents less than one year ago, according to figures from AAA and the Oil Price Information Service. It has dropped $2.009 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price dropped four-tenths of a cent to $4.428, its lowest amount since Jan. 15. It is 2.3 cents less than one week ago, 14.4 cents less than one month ago and 14.9 cent less than one year ago. It has dropped $2.03 since rising to a record $6.458 on Oct. 5, 2022.
The national average price increased four-tenths of a cent to $3.144. It is six-tenths of a cent less than one week ago, 7.4 cents less than one month ago and 35.7 cents less than one year ago. The national average price has dropped $1.872 since rising to a record $5.016 on June 14, 2022.
“The national average price of gasoline slipped slightly over the last week, falling alongside oil, which dropped more than $2 per barrel,” 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.
“However, a few states — including Florida, Nebraska, and Indiana — bucked the trend, posting double-digit increases per gallon. These areas are prone to a phenomenon known as price cycling, where prices can spike and plunge every couple of weeks even if wholesale costs remain mostly unchanged.
“While I don’t expect major movement in the national average as we approach August, states impacted by price cycling will likely continue to experience more volatile price swings, while others will see relative stability.”