February 23, 2024 3:04 pm

Average Gas Price in LA County Reaches Lowest Amount Since February 14

On Tuesday, the average cost of a gallon of self-serve regular gasoline in Los Angeles County resumed its decline, marking a shift from the preceding streak of 78 increases in 79 days, which amounted to a total increase of $1.587 and concluded with a day of unchanged prices.

The average price dropped by 1.3 cents on Tuesday, reaching $4.715, its lowest level since February 14, as reported by the AAA and Oil Price Information Service. This represents a decrease of 10.4 cents from one week ago and a substantial 37.6 cents from one month ago. However, it remains 24.2 cents higher than the same day last year. Overall, the average price has decreased by $1.779 since reaching a record high of $6.494 on October 5, 2022.

In Orange County, the average price also experienced a downward trend for the eighth consecutive day, decreasing by half a cent to $4.558, the lowest since February 3. This reflects a 9.6 cent decrease from the previous week and a significant 37.9 cent drop from one month ago. Despite this, it remains 21.8 cents higher than the same day last year. Since its record high of $6.459 on October 5, 2022, the Orange County average price has decreased by $1.901, including a two-tenths of a cent decrease on Monday.

The national average price, after an 18-day streak of decreases totaling 18.2 cents, saw an increase of 1.4 cents to $3.08. However, it still stands 5.7 cents lower than the previous week, 23.3 cents lower than the previous month, and 6.2 cents cheaper than the same day last year. The national average price has seen a notable decrease of $1.936 since reaching a record high of $5.016 on June 14, 2022.