The price of self-serve regular gasoline in Los Angeles County has dropped for the 11th time in 12 days, reaching $4.916 per gallon. Over the past 12 days, the average price has decreased by 5.8 cents, including a decrease of two-tenths of a cent on Thursday. After seven consecutive days of decline, it saw a slight increase of one-tenth of a cent on Monday before resuming its downward trend on Tuesday.
Compared to one week ago, the average price is now 2.5 cents lower and $1.47 lower than last year. However, it is still 4.7 cents higher than one month ago. In fact, it has dropped a significant $1.578 since its record high of $6.494 on October 5th.
In Orange County, the average price of gasoline also dropped for the 11th time in 13 days, reaching $4.844 per gallon. It has experienced a decrease of 7.4 cents over the past 13 days, including a half-cent drop on Thursday.
The current average price in Orange County is 2.6 cents lower than one week ago and $1.466 lower than last year. However, it is still 1.8 cents higher than one month ago. Similar to Los Angeles County, Orange County has seen a significant drop of $1.615 since its record high of $6.459 on October 5th.
The reduction in gasoline prices can be attributed to the improved supply of Arizona gasoline, which is produced by some Southern California refineries. According to Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, this has alleviated the pressure on local gas prices.
However, Washington state has experienced significant price increases due to its new cap-and-trade program, which requires refineries to purchase carbon credits to offset pollution. In the past month, Washington has surpassed California as the most expensive state for gasoline in the country.
As of Friday, the average price of self-serve regular gasoline in Washington was $4.963 per gallon, while in California, it was $4.853.
Nationally, the average price remained unchanged at $3.584 per gallon. After a series of seven decreases in eight days totaling 1.7 cents, there were back-to-back increases totaling seven-tenths of a cent. When compared to one week ago, the national average price is slightly higher by one-tenth of a cent and 4.1 cents higher than one month ago. However, it is $1.356 lower than last year.
The national average price has seen a significant decline of $1.432 since reaching a record high of $5.016 on June 14, 2022.
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