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Business Oct 14, 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 for the 15th day in a row Saturday, decreasing 3.4 cents to $5.811.
The LA-area average price has dropped 50.4 cents over the past 15 days, including 3.6 cents Friday, according to figures from the AAA and Oil Price Information Service. The streak follows a run of 23 increases in 25 days totaling 91.8 cents.
The average gasoline price is 22 cents less than one week ago, 19.6 cents more than one month ago, and 39.6 cents less than one year ago. It has dropped 68.3 cents since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average gasoline price also dropped for the 15th consecutive day, decreasing 3.9 cents to $5.611. It has dropped 67.7 cents over the past 15 days, including 4.9 cents Friday.
The OC average price is 26 cents less than one week ago, 1.6 cents more than one month ago, and 48.2 cents less than one year ago. It has dropped 84.8 cents since rising to a record $6.459 on Oct. 5, 2022.
In Riverside County, the average gasoline price dropped for the 15th consecutive day, as well, falling 3.7 cents to $5.651.
The average price has dropped 50 cents over the past 15 days, including 3.3 cents Friday, according to figures from the AAA and Oil Price Information Service.
The streak follows a run of 22 increases in 24 days totaling 86.6 cents. The Riverside County average price is 21.8 cents less than one week ago, 15.6 cents more than one month ago, and 44.4 cents less than one year ago. It has dropped 72.2 cents since rising to a record $6.373 on Oct. 5, 2022.
Another 15-day streak took place in San Diego County, where the average gasoline price decreased 2.9 cents to $5.797.
The San Diego County average price has dropped 45.2 cents over the past 15 days, including 3 cents Friday.
The decreasing prices follow a run of 23 increases in 25 days totaling 86.7 cents.
The San Diego-area average is 20.6 cents less than one week ago, 20 cents more than one month ago, and 36 cents less than one year ago. It has dropped 63.8 cents since rising to a record $6.435 on Oct. 5, 2022.
The decreasing gas-pump prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board on 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 16th consecutive day and 24th time in the last 26 days, falling 1.9 cents to $3.609. It has dropped 27.2 cents over the past 26 days, including 1.8 cents Friday.
The national average price is 11.3 cents less than one week ago, 24.9 cents less than one month ago and 29.4 cents less than one year ago. It has dropped $1.407 since rising to a record $5.016 on June 14, 2022.
“Los Angeles wholesale gasoline prices did move up this week after the Hamas terrorist attacks on Israel,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“As long as this war does not spread to include more countries in the region, the effect on the oil market will remain muted,” according to a statement by Andrew Gross, an AAA national public relations manager. “Here in the U.S., there are now nine states with some county gas averages below $3 a gallon, and this number will likely increase in the coming weeks.”
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