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Business Oct 07, 2023
The evolution of gas pumps. | Photo courtesy of mark6mauno/Flickr (CC BY 2.0)
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The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Saturday for the eighth consecutive day, decreasing 5.2 cents to $6.031.
The average price has dropped 28.4 cents over the past eight days, including 6.2 cents Friday, according to figures from the AAA and Oil Price Information Service.
The decreasing prices follow a run of 23 increases in 25 days totaling 91.8 cents that boosted the average price to its highest amount since Oct. 11, 2022.
The average price is 27.7 cents less than one week ago and 42.7 cents lower than one year ago but 59 cents more than one month ago. It has dropped 46.3 cents since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average gasoline price also dropped for the eighth consecutive day, decreasing 7.1 cents to $5.871. It has dropped 41.7 cents over the past eight days, including 6.8 cents Friday.
The decreasing prices follow a run of 26 increases in 28 days totaling 97.2 cents that boosted the average price to its highest amount since Oct. 10, 2022.
The Orange County average price is 40.2 cents less than one week ago and 52.8 cents lower than one year ago but 47.6 cents more than one month ago. It has dropped 58.8 cents since rising to a record $6.459 on Oct. 5, 2022.
The average gasoline price in Riverside County dropped for the eighth consecutive day, decreasing 4.3 cents to $5.869.
The average price has dropped 28.2 cents over the past eight days, including 6.3 cents Friday, its largest decrease since Oct. 20.
The decreasing prices follow a run of 22 increases in 24 days totaling 86.6 cents.
The average price in Riverside County is 27.6 cents less than one week ago and 47.8 cents lower than one year ago, but 53.9 cents more than one month ago. It has dropped 50.4 cents since rising to a record $6.373 on Oct. 5, 2022.
The average gasoline price in San Diego County also dropped for the eighth consecutive day, decreasing 4.7 cents to $6.003.
The average price has dropped 24.6 cents over the past eight days, including 6.8 cents Friday, its largest decrease since Oct. 18.
The decreasing San Diego-area prices follow a run of 23 increases in 25 days totaling 86.7 cents.
The average price in San Diego County is 24.5 cents less than one week ago and 39.2 cents lower than one year ago, but 57.1 cents more than one month ago. It has dropped 43.2 cents since rising to a record $6.435 on Oct. 5, 2022.
“It takes time, but SoCal will drop >$1/gal by the holidays,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, wrote on X, formerly known as Twitter, Thursday.
The decreasing prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board Sept. 28 directing it to allow refineries to begin making and distributing winter-blend gasoline, which is cheaper to produce.
Stations normally cannot start selling winter blend gas until Nov. 1.
The national average price dropped for the ninth consecutive day and 17th time in 19 days, decreasing 2.4 cents to $3.722. It has dropped 15.9 cents over the past 19 days, including 2.2 cents Friday.
The national average price is 10.1 cents less than one week ago, 8.1 cents lower than one month ago and 16.9 cents below what it was one year ago. It has dropped $1.294 since rising to a record $5.016 on June 14, 2022.
The run of decreases follows an 11-day streak of increases totaling 7.8 cents.
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