The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped four-tenths of a cent to $4.724, the third consecutive decrease after four consecutive increases totaling 1.1 cents.
The average price has dropped nine-tenths of a cent over the past three days, including four-tenths of a cent Thursday ,according to figures from the AAA and Oil Price Information Service. It is three-tenths of a cent more than one week ago, 4.1 cents higher than one month ago and 14.4 cents greater than one year ago.
The average price has decreased $1.772 since rising to a record $6.493 on Oct. 5, 2022, including one-tenth of a cent Wednesday.
The Orange County average price dropped a half-cent to $4.696, one day after a five-day streak of increases totaling 1.7 cents ended with a decrease of four-tenths of a cent. It is eight-tenths of a cent more than one week ago, 4.6 cents higher than one month ago and 18.3 cents greater than one year ago.
The Orange County average price has dropped $1.762 since rising to a record $6.458 on Oct. 5, 2022.
“According to Oil Price Information Service and the California Energy Commission, gasoline inventories are higher than they were at this time a year ago, and supply has not yet been impacted by the El Segundo refinery fire,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“Also according to OPIS, Chevron filed a report with the state indicating the fire mainly damaged a unit that processes jet fuel. A Chevron spokesperson also stated they would be making `operational adjustments’ to resume refinery production to meet fuel demand.”
The national average price dropped for the eighth time in nine days, decreasing 1 cent to $3.10. It has dropped 6 cents over the past nine days, including a half-cent Thursday.
The run began with four consecutive decreases. The national average price was unchanged Monday and resumed dropping Tuesday. It is 5.2 cents less than one week ago, 9.3 cents lower than one month ago and 11.2 cents below what was one year ago.
The national average price has dropped $1.916 since rising to a record $5.016 on June 14, 2022.