The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday to its lowest amount since Jan. 4, decreasing 1.4 cents to $4.433.
The average price has dropped seven of the past eight days, decreasing 3.5 cents, including a half-cent Monday, according to figures from the AAA and the Oil Price Information Service.
The average price is 3.1 cents less than one week ago, 28.4 cents lower than one month ago but 2.5 cents more than one year ago. It has dropped $2.061 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped to its lowest amount since Dec. 21, 2024, decreasing 1.6 cents to $4.312. It has dropped four consecutive days, decreasing 2.8 cents, including seven-tenths of a cent Monday, after back-to-back increases totaling 1 cent.
The Orange County average price is 2.7 cents less than one week ago, 34 cents lower than one month ago and 2.8 cents below what it was one year ago. It has dropped $2.147 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose nine-tenths of a cent to $2.834, ending a run of five decreases in six days totaling 3.3 cents. It is 2.4 cents less than one week ago, 17.1 cents lower than one month ago and 19.2 cents below what it was one year ago.
The national average price has dropped $2.182 since rising to a record $5.016 on June 14, 2022.
“For the fifth straight week, the national average price of gasoline has declined, with all but a handful of states seeing prices move lower,” 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
“Oil prices have remained relatively low even amid the U.S. blockade on Venezuela’s oil exports. With refineries running at seasonally high output and gasoline inventories building, most states — outside of price-cycling markets — have continued to see declines, with some stations in nearly a dozen states now dipping below the $2-per-gallon mark.
“That trend could persist a bit longer before prices finally bottom out sometime in January or February.”