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Business Aug 23, 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 dropped seven-tenths of a cent Tuesday to $5.331 after remaining unchanged for two days in a row.
The average price dropped $1.131 since rising to a record high $6.462 on June 14. It was unchanged on Monday and Sunday, according to figures from the AAA and the Oil Price Information Service. The streak of decreasing gas prices was the longest since a 92-day streak from Oct. 2, 2014-Jan. 1, 2015.
The average price is 4.9 cents less than one week ago and 47.5 cents lower than one month ago, but 94.5 cents more than one year ago.
The Orange County average price dropped 1.1 cents to $5.23 after increasing two-tenths of a cent Monday. It is 3.2 cents less than one week ago and 47.6 cents lower than one month ago, but 87.7 cents more than one year ago.
The national average price dropped for the 70th consecutive day since rising to a record, decreasing nine-tenths of a cent to $3.892. It has dropped $1.124 since rising to a record $5.016 on June 14, including three-tenths of a cent Monday.
The national average price is 5.7 cents less than one week ago and 49 cents lower than one month ago, but 73 cents more than one year ago.
