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Business Aug 20, 2022
Gas station in Los Angeles at Fairfax Avenue and Olympic Boulevard. | Photo courtesy of Chris Yarzab/Wikimedia Commons (CC BY 2.0)
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The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Saturday for the 67th consecutive day since rising to a record, dropping seven-tenths of a cent to $5.338, its lowest amount since March 5.
The average price has dropped $1.124 since rising to a record high of $6.462 on June 14, including a half-cent Friday, according to figures from the AAA and the Oil Price Information Service. It is 6.1 cents less than one week ago and 56.5 cents lower than one month ago, but 94.9 cents more than one year ago.
The Orange County average price rose for just the second time since June 12, increasing two-tenths of a cent to $5.241. It also increased Friday, rising nine-tenths of a cent. The Orange County average price is 4.7 cents less than one week ago and 55.9 cents lower than one month ago, but 88.4 cents more than one year ago.
“Southern California gas prices are now at their lowest levels since March shortly after the Ukraine war began, and they are also less than a dollar higher than a year ago today in many areas, which has not happened since April 2021,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications and programs manager.
The national average price dropped for the 67th consecutive day since rising to a record, falling 1 cent to $3.908. It has dropped $1.108 since rising to a record $5.016 on June 14, including 1.3 cents Friday.
The national average price is 5.7 cents less than one week ago and 55.9 cents lower than one month ago, but 73.6 cents more than one year ago.
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