Average SoCal gasoline prices decline for 22nd consecutive day

By STEVEN HERBERT

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday for the 22nd consecutive day since rising to a record, decreasing 2.9 cents to $5.705.

The average gasoline price has dropped 78.9 cents over the past 22 days, including 3.6 cents Wednesday, to its lowest amount since Sept. 24, according to figures from the AAA and the Oil Price Information Service.

The average price is 22 cents less than one week ago and 25.4 cents lower than one month ago but $1.137 more than one year ago — mainly due to a 33-day streak of increases totaling $1.248 that ended Oct. 6.

The Orange County average price also dropped for the 22nd consecutive day since rising to a record, decreasing 2.5 cents to $5.574, its lowest amount since Sept. 22. It has dropped 88.5 cents over the past 22 days, including 3.8 cents Wednesday, following a run of 15 increases in 16 days totaling $1.063 that ended Oct. 6.

The Orange County average price is 21.1 cents less than one week ago and 36.3 cents lower than one month ago but $1.043 more than one year ago.

“Global recession fears coupled with the Biden Administration’s plan to continue tapping the Strategic Petroleum Reserve into December has helped temper oil prices,” said Andrew Gross, an AAA national public relations manager. “This will help take the pressure off pump prices, benefiting drivers and their wallets.”

The national average price dropped for the 15th time in 16 days, decreasing four-tenths of a cent to $3.76, its lowest amount since Sept. 27. It has dropped 16.3 cents over the past 16 days, including 1.1 cents Wednesday.

The national average price is 7.6 cents less than one week ago, but 1.3 cents more than one month ago and 36.6 cents higher than one year ago. It is $1.256 less than the record of $5.016 set June 14.

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