The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the 38th consecutive day Sunday, decreasing 1.1 cents to $4.473.
The average price has decreased $1.058 during the streak, including 2.8 cents Saturday, to its lowest amount since Oct. 15, 2021, according to figures from the AAA and the Oil Price Information Service.
It has fallen 71 times in 74 days since rising to a record $6.494 on Oct. 5, decreasing $2.021. The average price is 17.2 cents less than one week ago, 91.9 cents lower than one month ago, and 20.2 cents cheaper than one year ago.
The Orange County average price dropped for the 37th consecutive day, decreasing 1 cent to $4.352, its lowest amount since Sept. 23, 2001. It has fallen 71 times in 74 days since rising to a record $6.357 on Oct. 5, decreasing $2.005, and is 16.9 cents less than one week ago, 93.5 cents lower than one month ago, and 29.2 cents cheaper than one year ago.
“Oil Price Information Service reports that according to the California Energy Commission, the state’s refinery production of gasoline has dropped for the fourth straight week and fuel stockpiles are now lower, but so is demand,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Even with lower production, Los Angeles and San Francisco wholesale gasoline prices are now lower than New York, so there should be further pump price drops ahead as long as that trend holds.”
The national average price dropped for the 39th consecutive day, decreasing 1 cent to $3.149. The national average is 12.8 cents less than one week ago, 55.8 cents lower than one month ago, and 16 cents cheaper than one year ago. It has dropped 65.7 cents over the past 39 days, including 1.9 cents Saturday, and is $1.867 lower than the record $5.016 set June 14.
Source: NBC Los Angeles