The average price of a gallon of self-serve regular gasoline in Los Angeles County fell 1.4 cents to $5.319 on Saturday, the 11th drop in the past 12 days.
Average prices have fallen 6.8 cents over the past 12 days, including eight-tenths of a cent on Friday, according to statistics from AAA and the Oil Price Information Service. It’s down 4.9 cents from a week ago, but up 9.2 cents from a month ago, and up 43.7 cents from a year ago. Since rising to an all-time high of $6.494 on October 5, 2022, it has fallen $1.175.
Orange County’s average price fell 1.3 cents to $5.238, the 16th decline in 17 days. It has fallen 11.1 cents over the past 17 days, and by eight-tenths of a cent on Friday.
The average price in Orange County is down 5.3 cents from a week ago, but up 4.1 cents from a month ago and 41 cents from a year ago. Since rising to an all-time high of $6.459 on October 5, 2022, it has fallen $1.221.
“After months of supply outages due to refinery breakdowns and maintenance, California refineries have been operating at more than 86% of capacity for the past two weeks, the Oil Price Information Service reports,” Southern California Automobile said. said Doug Shoop, president of the club’s corporation. Communication manager.
“Furthermore, OPIS reported that the U.S. Energy Information Administration believes the country has already reached its highest gas prices in the first half of this year. Although California prices often buck the national trend, , this forecast is an encouraging sign of further price declines.”
The national average price fell eight-tenths of a cent to $3.659. Same as a week ago, 9.2 cents more than a month ago, and 8.5 cents more than a year ago. The national average price has fallen $1.357 since rising to an all-time high of $5.016 on June 14, 2022.
“From a demand standpoint, we went into a pre-Memorial Day funk,” said AAA national communications manager Andrew Gross. “And with oil prices down to the low $70s, the price of a barrel of oil is nearly $10 lower than it was two weeks ago. This could keep pump prices somewhat flat for some time.”
