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Business Jun 25, 2022
| Photo courtesy of Gene Gallin/Unsplash
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The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Saturday for the 11th consecutive day and 12th time in 13 days, dropping 1.5 cents to $6.357.
The average price has dropped 10.3 cents over the past 13 days, including 1.4 cents Friday, according to figures from the AAA and the Oil Price Information Service. The run of dropping prices follows an 18-day streak of increases totaling 36.9 cents.
The average price is 7.3 cents less than one week ago but 26.6 cents more than one month ago and $2.072 higher than one year ago.
The Orange County average price also decreased for the 11th consecutive day and 12th time in 13 days, dropping 1.5 cents to $6.28. It has decreased 13 cents over the past 12 days, including 1.5 cents on both Thursday Friday. The run of dropping prices follows an 17-day streak of increases totaling 35.1 cents.
The Orange County average price is 8.7 cents less than one week ago but 21.9 cents more than one month ago and $2.041 higher than one year ago.
The dropping prices are the result of increased supply stemming from Southland refineries reporting their second-highest California-blend gasoline production levels of 2022 and economic concerns pushing down the price of oil, according to Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
The national average price dropped for the 11th consecutive day following an 18-day streak of increases, decreasing 1.8 cents to $4.908. It has dropped 10.8 cents over the past 11 days, including 1.4 cents Friday.
The national average price rose 41.5 cents during the 18-day streak of increases. It is 8.1 cents less than one week ago but 30.9 cents more than one month ago and $1.822 higher than one year ago.
