LA, Orange County Gas Prices Continue to Slide

LA, Orange County Gas Prices Continue to Slide
LA, Orange County Gas Prices Continue to Slide

LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Sunday for the 13th consecutive day and 22nd time in the last 23 days, decreasing nine-tenths of a cent to $5,174.

The average price has decreased 19.8 cents over the past 23 days, including 1.5 cents Saturday, according to figures from the AAA and Oil Price Information Service. It is 8 cents less than one week ago and 21.9 cents less than one month ago, but 32.9 cents more than one year ago, and has dropped $1.32 since rising to a record $6.494 on Oct. 5, 2022.

The Orange County average price dropped for the 23rd time in 24 days, falling eight-tenths of a cent to $5,081. It has dropped 21.6 cents over the past 24 days, including 1.6 cents Saturday. The Orange County average price is 8.7 cents less than one week ago and 26 cents less than one month ago, but 26.6 cents more than one year ago, and has dropped $1,378 since rising to a record $6,459 on Oct. 5, 2022.

The national average price dropped for the ninth time in 10 days, falling two-tenths of a cent to $3,591. It has dropped 5.1 cents over the past 10 days, including four-tenths of a cent Saturday. The national average price is 2.8 cents less than one week ago and 8.8 cents less than one month ago, but 5 cents more than one year ago, and has dropped $1.425 since rising to a record $5.016 on June 14, 2022.

The primary reasons for the “glacial descent” of the national average price “are weak domestic demand and oil costs below $80 a barrel,” according to Andrew Gross, an AAA national public relations manager.

“Barring some unforeseen event, this pokey drop in pump prices is not likely to change anytime soon,” Gross said. “There are seven states with county gas averages at less than $3 a gallon. This trend will likely accelerate as more gas outlets east of the Rockies drop their prices.”

 
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