The Votes Are In!
2024 Readers' Choice is back, bigger and better than ever!
View Winners → Business Nov 03, 2022
| Photo courtesy of Gene Gallin/Unsplash
by
share with
The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday for the 29th consecutive day since rising to a record, decreasing 2.8 cents to $5.538.
The average gasoline price has dropped 95.6 cents over the past 29 days, including 3.4 cents Wednesday, to its lowest amount since Sept. 23, according to figures from the AAA and the Oil Price Information Service. It is 16.7 cents less than one week ago and 92.8 cents lower than one month ago, but 95.4 cents more than one year ago.
The Orange County average price also dropped for the 29th consecutive day since rising to a record, decreasing 2.7 cents to $5.414, its lowest amount since Sept. 20. It has dropped $1.045 over the past 29 days, including 3.3 cents Wednesday. It is 16 cents less than one week ago and $1.009 cents lower than one month ago, but 87.1 cents more than one year ago.
“The biggest reason for pump price drops on Southern California in recent weeks is because regional refineries that were off line are fully operational again which has fixed the fuel inventory squeeze we saw that led to record breaking pump prices,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, told City News Service.
The national average price rose Thursday 1.3 cents $3.778. It is 1.8 cents more than one week ago and 37.5 cents more than one year ago, but 1.8 cents lower than one month ago. It is $1.238 less than the record of $5.016 set June 14.
