Gas prices in LA, Orange counties drop for 4th straight day after record highs
The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Sunday for the fourth consecutive day after rising to a record, decreasing 2 cents to $6.41.
The average price has dropped 8.4 cents over the past four days, including 2.8 cents Saturday, according to figures from the AAA and Oil Price Information Service.
The average price is 4.9 cents less than one week ago but $1.058 more than one month ago and $1.976 higher than one year ago mainly due to a 33-day streak of increases totaling $1.248 that ended Thursday with a decrease of three-tenths of a cent.
The Orange County average price also dropped for the fourth consecutive day after rising to a record, decreasing 3 cents to $6.328. It has dropped 13.1 cents over the past four days, including 4.1 cents Saturday, its largest decrease since July 14, following a run of 15 increases in 16 days totaling $1.063.
The Orange County average price is 9.4 cents less than one week ago but $1.02 more than one month ago and $1.922 higher than one year ago.
The dropping prices are the result of refineries that were undergoing maintenance "coming back online, winter-blend fuel, which is cheaper to produce" entering "the market sooner than Nov. 1 and multiple cargoes carrying gasoline products are on their way to California in the coming weeks," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service.
"All of these factors will put downward pressure on prices at the pump, but we don't know how much prices will fall or how fast they will fall," Shupe said.
The national average price rose for the 18th time in 19 days, increasing six-tenths of a cent to $3.91. The average price has increased 23.6 cents over the past 19 days, including 1.3 cents Saturday. It rose for 11 consecutive days, dropped four-tenths of a cent last Sunday and resumed increasing Monday.
The national average price is 11.4 cents more than one week ago, 17.2 cents higher than one month ago and 64.4 cents greater than one year ago.
The national average price is $1.106 less than the record $5.016 set June 14.
The run of increases follows a 98-day streak of decreases totaling $1.342 that began the day after the record was set.