February 23, 2024 2:47 pm

Los Angeles County Gas Prices Experience Significant Drop

On Monday, the average price of a gallon of self-serve regular gasoline in Los Angeles County reached its lowest point since January 27, 2023, with a decrease of six-tenths of a cent, settling at $4.559.

This marks the 18th consecutive day of a declining average price, amounting to a total drop of 19.8 cents, including a one-cent decrease on Sunday. According to data from the AAA and Oil Price Information Service, it is 7 cents less than the previous week and 13.1 cents lower than a month ago. However, it remains 3.7 cents higher than the price one year ago.

Since reaching a record high of $6.494 on October 5, 2022, the average price has seen a substantial decrease of $1.935.

In Orange County, the average price experienced a marginal increase of one-tenth of a cent, reaching $4.462. This marks the first increase since January 3, following 16 consecutive days of decline. The Orange County average was unchanged on Saturday and decreased by two-tenths of a cent on Sunday.

Compared to the previous week, the Orange County average price is 5.9 cents lower and 7.6 cents less than one month ago. However, it is 1.2 cents higher than the price recorded one year ago. Since its peak of $6.459 on October 5, 2022, the Orange County average has dropped by $1.997.

Nationally, the average price dropped by one-tenth of a cent to $3.077, marking the fourth consecutive decrease after three consecutive increases totaling 2.6 cents. Over the past four days, it has dropped by 1.7 cents, including a four-tenths of a cent decrease on Sunday.

In comparison to the previous week, the national average price is nine-tenths of a cent higher but 5.2 cents lower than one month ago. It is also 33.8 cents lower than the price recorded one year ago. Since its record high of $5.016 on June 14, 2022, the national average has seen a notable decrease of $1.939.