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Business May 06, 2023
| Photo courtesy of Gene Gallin/Unsplash
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The average price of a gallon of self-serve regular gasoline in Los Angeles County fell Saturday for the 16th time in 18 days, dropping seven-tenths of a cent to $4.865, its lowest amount since April 1.
The average price has decreased 8.5 cents over the past 18 days, including 1 cent Friday, according to figures from the AAA and the Oil Price Information Service. It is 4.2 cents less than one week ago, 3.5 cents lower than one month ago and 98.7 cents below what it was one year ago.
The average gasoline price has dropped $1.629 since rising to a record $6.494 on Oct. 5.
The Orange County average price dropped for the 17th time in 18 days, decreasing eight-tenths of a cent to $4.808, its lowest amount since March 27. It has dropped 12.1 cents over the past 18 days, including 1.2 cents Friday.
The Orange County average price is 5.4 cents less than one week ago, 5.6 cents lower than one month ago and 99.3 cents below what it was one year ago. It has dropped $1.651 since rising to a record $6.459 on Oct. 5.
The national average gasoline price dropped for the 16th consecutive day following a 23-day streak of increases totaling 25.1 cents, falling 1.4 cents to $3.547. It has dropped 13.9 cents over the past 16 days, including 1.3 cents Friday, and is 6.8 cents less than one week ago, six-tenths of a cent lower than one month ago and 73.2 cents below what it was one year ago
The national average price has dropped $1.469 since rising to a record $5.016 on June 14.
“The oil market volatility is leading to lower prices,” Andrew Gross, an AAA national public relations manager, said in a statement. “And we are also in a pre-summer driving season lull regarding domestic demand. These two factors should keep pump prices drifting lower for now.”
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