The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed dropping Tuesday, decreasing seven-tenths of a cent to $4.709.
A four-day streak of decreases totaling 1.4 cents ended Monday with an increase of one-tenth of a cent, according to figures from the AAA and Oil Price Information Service.
The average price is 2 cents less than one week ago but three-tenths of a cent more than one month ago and 10.8 cents higher than one year ago. It has decreased $1.784 since rising to a record $6.493 on Oct. 5, 2022, including one-tenth of a cent Wednesday.
The Orange County average price dropped 1.3 cents to $4.673 after back-to-back increases totaling three-tenths of a cent. It is 2.8 cents less than one week ago and 2.7 cents lower than one month ago but 13.2 cents more than one year ago.
The Orange County average price has dropped $1.785 since rising to a record $6.458 on Oct. 5, 2022.
The national average price dropped for the 12th time in 13 days, decreasing six-tenths of a cent to $3.076. It has dropped 8.4 cents over the past 13 days, including one-tenth of a cent Monday.
The run began with four consecutive decreases. The national average price was unchanged Oct. 6, then resumed dropping last Tuesday.
The national average price is 4.5 cents less than one week ago, 9.9 cents lower than one month ago and 12.6 cents below what it was one year ago. The national average price has dropped $1.94 since rising to a record $5.016 on June 14, 2022.
“Americans appear to be on the cusp of seeing the national average drop below $3 per gallon and potentially stay there for the first time in years, as prices have fallen across the vast majority of the country,’ 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 well over 40 states seeing gas prices decline and oil plunging below $60 per barrel to end the week, the good news may not end if — and when — the national average hits that magical $2.99 mark.
“We could even see a handful of stations in places like Oklahoma, Texas or even Wisconsin drop below $2 per gallon in the weeks ahead — something not seen since the pandemic. In addition, with wages up and gas prices down, Americans are spending the smallest share of their paycheck on gasoline in many years.”