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Business Nov 21, 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 2 cents Monday to $5.296.
The average gasoline price has dropped 44 times in 47 days since rising to a record $6.494 on Oct. 5, decreasing $1.198, including 3.5 cents Sunday, according to figures from the AAA and the Oil Price Information Service. It is 20.6 cents less than one week ago and 57.6 cents lower than one month ago, but 59.5 cents more than one year ago.
The Orange County average gas price dropped 1.6 cents Monday to $5.19. It has dropped 41 times in 47 days since rising to a record $6.357 on Oct. 5, decreasing $1.167, including 3.4 cents Sunday. The Orange County average price is 20.8 cents less than one week ago and 56.3 cents lower than one month ago, but 51.9 cents more than one year ago.
Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said the Auto Club is projecting an all-time record number of 4.5 million Southern California Thanksgiving travelers this week, with 3.9 million of them driving to their destinations, “so demand will likely increase in the coming days.”
The national average price dropped for the 11th consecutive day, decreasing nine-tenths of a cent to $3.662. It is 11.1 cents less than one week ago and 15.8 cents lower than one month ago, but 25.4 cents more than one year ago. The national average price has dropped 14.3 cents over the past 12 days, including 1.3 cents Sunday. It is $1.354 lower than the record $5.016 set June 14.
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