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The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the 22nd time in 23 days Saturday, falling 2.9 cents to $6.105.
The average price has decreased 33.4 cents over the past 23 days, including 1.7 cents Friday, according to figures from the AAA and Oil Price Information Service. The run of decreases follows a 44-day streak of increases totaling 79.7 cents that brought the average price within 5.4 cents of its record high, $6.493, set Oct. 5, 2022.
The average price is 13.6 cents less than one week ago and 17.7 cents less than one month ago, but $1.472 more than one year ago. It has increased $1.411 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
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The Orange County average price dropped for the 23rd consecutive day, falling 3 cents to $5.994. It has dropped 41.1 cents over the past 23 days, including 2.4 cents Friday. The streak of decreases follows a run of 42 increases in 44 days totaling 83.7 cents that pushed it within 5.3 cents of its record high, $6.458, set Oct. 5, 2022.
The Orange County average price is 18.1 cents less than one week ago and 27.1 cents less than one month ago, but $1.41 more than one year ago. It has increased $1.358 since the start of the war on Iran.
The dropping prices are the result of Gov. Gavin Newsom’s announcement Sept. 28 that cheaper winter-blend gasoline would be allowed to be sold immediately instead of the customary Nov. 1 date.
The national average price rose three-tenths of a cent to $4.295. It is 1.3 cents less than one week ago and 18.7 cents less than one month ago, but $1.228 more than one year ago. The national average price has increased $1.313 since the attack on Iran.
“High crude oil prices are preventing steep declines at the pump,” according to a statement from the AAA released Thursday. “Currently, the price for a barrel of crude oil is nearing $100 per barrel amid instability in the Strait of Hormuz. This month is poised to set a record as the most expensive October ever for gas prices following similar records set in August and September of this year.”
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