July 14, 2024 9:52 pm

Average Gas Prices in LA and Orange County Decrease for Third Consecutive Day

The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased on Friday for the third consecutive day, falling six-tenths of a cent to $4.788, after previously increasing by eight-tenths of a cent. Over the past three days, the average price has dropped by 1.3 cents, including a half-cent decrease on Thursday. This price is half a cent less than one week ago, 29.1 cents lower than one month ago, and 10 cents below the price from one year ago, according to figures from the AAA and Oil Price Information Service.

Since reaching a record high of $6.494 on October 5, 2022, the average price in Los Angeles County has decreased by $1.706.

In Orange County, the average price of gasoline also fell for the third consecutive day, decreasing by 1 cent to $4.688. This follows a six-day streak of increases totaling 2.6 cents. Over the past three days, the average price in Orange County has dropped by 1.9 cents, including a seven-tenths of a cent decrease on Thursday. The current average price is two-tenths of a cent more than one week ago, 29.8 cents lower than one month ago, and 12.6 cents below the price from one year ago. The average price in Orange County has decreased by $1.771 since reaching a record high of $6.459 on October 5, 2022.

Doug Shupe, the corporate communications manager for the Automobile Club of Southern California, noted that local gas supplies appear to be tightening again after more than two months of price drops. He also mentioned that the upcoming Independence Day holiday is expected to see more than five million Southern Californians traveling, which is likely contributing to an increase in fuel demand and, consequently, pushing up pump prices.

Nationally, the average price of gasoline remained unchanged at $3.503 after four consecutive increases totaling 5.6 cents, including a nine-tenths of a cent increase on Thursday. This national average is 4.7 cents more than one week ago but 8.3 cents less than one month ago and 5.3 cents lower than one year ago. Since reaching a record high of $5.016 on June 14, 2022, the national average price has dropped by $1.513.