The 44-day streak of increases totaling 79.7 cents that brought the average price of a gallon of self-serve regular gasoline in Los Angeles County 5.4 cents from matching its record ended Friday with a decrease of seven-tenths of a cent.
The average price of $6.432 is 9.6 cents more than one week ago, 64.8 cents higher than one month ago and $1.709 greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price has increased $1.738 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The record average price is $6.493 set Oct. 5, 2022.
The run of 42 increases 44 days totaling 83.7 cents that brought the Orange County average price within 5.3 cents of matching its record ended with a drop of six-tenths of a cent to $6.399. It is 7.6 cents more than one week ago, 62.8 cents higher than one month ago and $1.707 greater than one year ago.
The Orange County average price has increased $1.77 since the start of the war on Iran. It increased 42 consecutive days, was unchanged Wednesday when it was unchanged and rose a half-cent Thursday.
The Orange County record average price is $6.458 set Oct. 5, 2022.
“Oil Price Information Service reports that California wholesale gasoline prices dropped by 20 cents yesterday after Gov. Gavin Newsom’s announcement late Monday that the cheaper winter-blend gasoline will be allowed to be sold immediately in California gas stations,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“We expect pump prices to begin falling soon.”
The national average price dropped for the seventh consecutive day, decreasing 1.7 cents to $4.396. It has dropped 9.5 cents over the past seven days, including 2.1 cents Thursday. The decreases follow back-to-back increases totaling 1.7 cents.
The national average price is 27.6 cents more than one month ago and $1.237 higher than one year ago. It has increased $1.414 since the attack on Iran.
The Los Angeles County average price rose more than 1.3 cents per day over the past week, the Orange County average price rose more than 1 cent per day over the past week while the national average price dropped more than 1.3 cents per day.
The national average price is at its highest amount this late in the calendar year, according to Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.