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Business Jul 22, 2023
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The average price of a gallon of self-serve regular gasoline in Los Angeles County inched up one-tenth of a cent Saturday to $4.973, ending a streak of five consecutive decreases.
The average gasoline price is 1.9 cents less than one week ago, 4.9 cents more than one month ago, and 86.8 cents less than one year ago, according to figures from the AAA and the Oil Price Information Service. It has dropped $1.521 since rising to a record $6.494 on Oct. 5.
The Orange County average price increased six-tenths of a cent to $4.899, after dropping six of the previous seven days.
It is 3.5 cents less than one week ago, 5.2 cents more than one month ago, and 83.5 cents less than one year ago. The Orange County average price has dropped $1.56 since rising to a record $6.459 on Oct. 5.
The average price of regular gasoline in Riverside County dropped one-tenth of a cent Friday to $4.843.
The average price has decreased five of the past six days, dropping 1.6 cents, following a run of nine consecutive increases totaling 7.2 cents, according to figures from the AAA and the Oil Price Information Service.
The average price is 1 cent less than one week ago and 91.6 cents lower than one year ago but 3.3 cents more than one month ago. It has dropped $1.53 since rising to a record $6.373 on Oct. 5.
“Gas prices in Southern California have dropped slightly since last week,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“Demand for fuel remains strong as many are taking summer road trips. Crude oil prices have been climbing since the beginning of June, which could mean we could see an increase in fuel prices before the end of summer.”
The national average price rose for the third consecutive day, increasing seven-tenths of a cent to $3.587. It has increased 2.4 cents over the past three days, including 1.1 cents Thursday.
The national average price is 2.1 cents more than one week ago and six-tenths of a cent higher than one month ago but 85.3 cents less than one year ago. It has dropped $1.429 since rising to a record $5.016 on June 14, 2022.
“Gas demand barely budged from last week, yet compared to this time in 2022, it is higher nationwide except for the Gulf Coast, Texas, and New Mexico,” said Andrew Gross, an AAA national public relations manager. “Some industry experts speculate that scorching temps in that region are keeping people off the road.”
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