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Business Dec 24, 2022
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The average price of a gallon of self-serve regular gasoline in Los Angeles County increased for the first time in 44 days Saturday, rising four-tenths of a cent to $4.429.
The average gasoline price had dropped 42 of the previous 43 days, decreasing $1.106, including three-tenths of a cent Friday, according to figures from the AAA and the Oil Price Information Service. It was unchanged last Monday, the only other day during the streak when it did not decrease.
The average price is 5.5 cents less than one week ago, 75 cents lower than one month ago and 24.4 cents cheaper than one year ago. It has dropped $2.065 since rising to a record $6.494 on Oct. 5.
The Orange County average price increased for the first time in 43 days, rising 1.1 cents to $4.327. It had dropped for 41 of the previous 42 days — including one-tenth of a cent Friday — to its lowest amount since July 22, 2021, and was unchanged on Thursday. The Orange County average price is 3.5 cents less than one week ago, 73.3 cents lower than one month ago and 31.1 cents cheaper than one year ago.
“After three historically large price spikes in 2022, Southern California drivers are finally getting some relief at the pump and at several gas stations they can pay less than $3.80 a gallon for regular unleaded,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Unfortunately, it looks like wholesale gasoline prices have bounced up as refineries have increased their maintenance activities and fuel inventories have shrunk, so it is uncertain how much longer the local price decreases will last.”
The national average price increased one-tenth of a cent to $3.097, ending a streak of 44 consecutive decreases that saw it drop 70.9 cents, including a half-cent Friday. It is 6.2 cents less than one week ago, 48.9 cents lower than one month ago and 19.2 cents cheaper than one year ago.
The national average price is $1.919 lower than the record $5.016 set June 14.
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