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Business Jul 12, 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 dropped Tuesday for the 28th consecutive day and 29th time in 30 days, decreasing 2.5 cents to $6.123, its lowest amount since May 27.
The average price has dropped 33.7 cents over the past 30 days, including nine-tenths of a cent Monday, 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 16 cents less than one week ago and 33.7 cents lower than one month ago but $1.784 more than one year ago.
The Orange County average price also decreased for the 28th consecutive day and 29th time in 30 days, dropping 2.9 cents to $6.03, its lowest amount since May 16. It has decreased 38 cents over the past 30 days, including 1 cent Monday. The run of dropping prices follows a 17-day streak of increases totaling 35.1 cents.
The Orange County average price is 16.1 cents less than one week ago and 38 cents lower than one month ago but $1.731 more than one year ago.
“Usually, more people buying gas would lead to higher pump prices,” said Andrew Gross, an AAA national public relations manager. “But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually means less expensive gas.”
The national average price dropped for the 28th consecutive day following an 18-day streak of increases, decreasing 2.3 cents to $4.655. It has dropped 36.1 cents over the past 28 days, including six-tenths of a cent Monday, after rising 41.5 cents during the 18-day streak of increases.
The national average price is 14.5 cents less than one week ago and 35.5 cents lower than one month ago but $1.508 more than one year ago.
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