The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed dropping Tuesday, decreasing 1.6 cents to $4.755, one day after a 13-day streak of decreases totaling 11.6 cents ended when it was unchanged.
The streak of decreases followed a 12-day streak of increases totaling 26.4 cents that had boosted the average price to its highest amount since April 10, according to figures from the AAA and the Oil Price Information Service.
The average price is 6.3 cents less than one week ago, but 12.1 cents more than one month ago and 29.2 cents higher than one year ago. It has dropped $1.738 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price also dropped for the 14th time in 15 days, decreasing 2.4 cents to $4.688. It dropped 12 consecutive days, was unchanged Sunday and resumed dropping Monday.
The Orange County average price has dropped 16.6 cents over the past 15 days, including three-tenths of a cent Monday. It is 6.9 cents less than one week ago but 10.6 cents more than one month ago and 30.5 cents higher than one year ago.
The Orange County average price has dropped $1.77 since rising to a record $6.458 on Oct. 5, 2022.
The streak of decreases began one day after an 11-day streak of increases totaling 28.6 cents, which boosted the Orange County average price to its highest amount since April 9.
The national average price dropped for the fifth consecutive day, decreasing 1.4 cents to $3.055. It has dropped 4.5 cents over the past five days, including three-tenths of a cent Monday.
The streak of dropping national prices follows a four-day streak of increases totaling 2.8 cents.
The national average price is 2.2 cent less than one week ago, four-tenths of a cent lower than one month ago, and one-tenth of a cent below what it was one year ago. It has dropped $1.961 since rising to a record $5.016 on June 14, 2022.
“Ahead of the peak of Thanksgiving travel, the national average has remained relatively steady, holding close to where it’s been for the last few weeks,” 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 released Monday.
“With refinery maintenance wrapping up, we’re likely to see more relief soon, particularly in the Great Lakes and West Coast regions. While Washington and Oregon may still see issues related to the Olympic pipeline shutdown, the broader outlook is promising — especially with oil prices dipping below $60 per barrel.
“Many states could begin to see further declines in the weeks ahead, just in time for the holidays.”