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Business Jan 06, 2023
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The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped nine-tenths of a cent Friday to $4.52, one day after a run of five increases in six days ended when it was unchanged.
The average price is 4.7 cents more than one week ago, but 27.8 cents less than one month ago and 15.9 cents lower than one year ago, according to figures from the AAA and Oil Price Information Service. It is $1.974 less than the record $6.494 set Oct. 5.
The Orange County average price dropped 1.1 cents to $4.444, the second consecutive decrease following a 12-day streak of increases totaling 14.3 cents. It is 5.5 cents more than one week ago, but 22.5 cents less than one month ago and 20.6 cents lower than one year ago.
The Orange County average gasoline price has dropped $2.015 since rising to a record $6.459 on Oct. 5.
“Planned and unplanned refinery issues as well as a local pipeline issue combined to push local gas prices higher, but this week Los Angeles wholesale prices have backed down as the Kinder Morgan pipeline issue appears to be resolved,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Bad weather throughout the U.S. and in California is likely to push down fuel demand. Oil prices have also dropped in response to lower domestic demand and world economic concerns,” Shupe said.
The national average gasoline price rose for the 13th time in 14 days following a 44-day streak of decreases totaling 70.9 cents, increasing a half-cent to $3.29. It has risen 19.4 cents over the past 14 days, including 2.5 cents Thursday.
The national average price is 11.1 cents more than one week ago, but 9 cents less than one month ago and 1.1 cents lower than one year ago. It is $1.726 lower than the record $5.016 set June 14.
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