The average price of a gallon of self-serve regular gasoline in Los Angeles County fell three-tenths of a cent to $5.316 on Sunday, the 12th drop in the past 13 days.
Average prices have fallen 7.1 cents over the past 13 days, including 1.4 cents on Saturday, according to statistics from AAA and the Oil Price Information Service. It’s down 5.1 cents from a week ago, but up 3.2 cents from a month ago, and up 44.4 cents from a year ago. Since rising to an all-time high of $6.494 on October 5, 2022, it has fallen $1.178.
Orange County’s average price fell 0.5 cent to $5.233, the 17th decline in 18 days. It has fallen 11.6 cents over the past 18 days, including 1.3 cents on Saturday. The average price in Orange County is 5.6 cents lower than a week ago and 2.3 cents lower than a month ago, but up 41.7 cents from a year ago. Since rising to an all-time high of $6.459 on October 5, 2022, it has fallen $1.226.
“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 six-tenths of a cent to $3.653. It’s 4/10 of a cent less than a week ago, but it’s 7.1 cents more than a month ago and 9.2 cents more than a year ago. The national average price has fallen $1.363 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.”
