Staff Photo by Jesús Sanchez
Staff Photo by Jesús Sanchez
The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the 21st time in 22 days, falling 1.7 cents to $6.134.
The average price has decreased 30.5 cents over the past 22 days, including 3.2 cents Thursday, according to figures from the AAA and Oil Price Information Service. It dropped 10 consecutive days, rose four-tenths of a cent Oct. 12 and resumed decreasing the following day.
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The run of decreases follows a 44-day streak of increases totaling 79.7 cents that brought the average price within 5.4 cents of its record high, $6.493, set Oct. 5, 2022.
The average price is 13.5 cents less than one week ago and 12.4 cents lower than one month ago, but $1.494 more than one year ago. It has increased $1.44 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 Orange County average price dropped for the 22nd consecutive day, falling 2.4 cents to $6.024. It has dropped 38.1 cents over the past 22 days, including 4.2 cents Thursday. The streak of decreases follows a run of 42 increases in 44 days totaling 83.7 cents that pushed it within 5.3 cents of its record high, $6.458, set Oct. 5, 2022.
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The Orange County average price is 17.7 cents less than one week ago and 22.2 cents lower than one month ago, but $1.434 more than one year ago. It has increased $1.388 since the start of the war on Iran.
The dropping prices are the result of Gov. Gavin Newsom’s announcement Sept. 28 that cheaper winter-blend gasoline would be allowed to be sold immediately instead of the customary Nov. 1 date.
The national average price rose 2.2 cents to $4.292, one day after a run of 11 decreases in 12 days totaling 10.7 cents ended with an increase of six-tenths of a cent. It is 3.5 cents less than one week ago and 18.2 cents lower than one month ago, but $1.221 more than one year ago.
The national average price has increased $1.31 since the attack on Iran.
“High crude oil prices are preventing steep declines at the pump,” according to a statement from the AAA released Thursday. “Currently, the price for a barrel of crude oil is nearing $100 per barrel amid instability in the Strait of Hormuz.
“This month is poised to set a record as the most expensive October ever for gas prices following similar records set in August and September of this year.”
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