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By Steven Herbert
The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday for the 14th time in 16 days, decreasing eight-tenths of a cent to $4.897.
The average price has dropped 7.7 cents over the past 16 days, including three-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service. It is 3.4 cents less than one week ago, 1 cent lower than one month ago and $1.453 below what it was one year ago.
The average gasoline price has dropped $1.597 since rising to a record $6.494 on Oct. 5.
The Orange County average price dropped for the 14th time in 17 days, decreasing 1.1 cents to $4.821, one day after rising one-tenth of a cent. It has dropped 9.7 cents over the past 17 days
The Orange County average gasoline price is 3.7 cents less than one week ago, 6.8 cents lower than one month ago and $1.451 below what it was one year ago. It has dropped $1.638 since rising to a record $6.459 on Oct. 5.
The national average price dropped for the fourth consecutive day, decreasing nine-tenths of a cent to $3.564. It has dropped 2 cents over the past four days, including one-tenth of a cent Monday.
The national average price is 1.3 cents less than one week ago, 1.5 cents lower than one month ago and $1.333 below what it was one year ago. It has dropped $1.452 since rising to a record $5.016 on June 14, 2022.
“It’s been another generally sideways week for the national average, which has remained stuck in the $3.50-$3.60 per gallon range since late April with fundamentals generally holding pretty stable, even though oil prices have bounced around between $65-$80 in the same time frame,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“We could see the national average nudge a bit lower in the week ahead, should oil prices fail to rally,” De Haan said in a statement. “But, with developments including the Wagner group destabilizing and testing Russia, there can always be last-minute shifts that impact prices.”
