Average Orange County gas price sees largest decrease since Dec. 20

ORANGE COUNTY, Calif. - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the third consecutive day Saturday following a 35-day streak of increases, decreasing four-tenths of a cent to $4.949.

The average price has dropped 1.2 cents over the past three days, including six-tenths of a cent Friday, according to figures from the AAA and Oil Price Information Service. It is 1.7 cents more than one week ago and 25.2 cents higher than one month ago,but 85.3 cents less than one year ago.

The average price has dropped $1.545 since rising to a record $6.494 on Oct. 5, 2022.

The Orange County average price recorded its largest decrease since Dec. 20, dropping 1.3 cents to $4.907, one day after decreasing 1.2 cents. It is four-tenths of a cent more than one week ago and 24.9 cents higher than one month ago, but 86.7 cents less than one year ago.

The Orange County average price has dropped $1.552 since rising to a record $6.459 on Oct. 5.

A 10-day streak of increases to the national average price totaling 11.7 cents ended when it was unchanged, remaining at $3.474. It is 7.5 cents more than one week ago and 5 cents higher than one month ago, but 85.7 less than one year ago.

The national average price has dropped $1.542 since rising to a record $5.016 on June 14.

"Less expensive oil and fewer people fueling usually combine to lower pump prices," said Andrew Gross, an AAA national public relations manager. "However, there is some upward pricing pressure at the moment due to the switch to summer blend gasoline, which may add about 5 to 10 cents per gallon. But if demand and oil costs remain low, this recent price bounce may fade."