LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday 1.9 cents to $4.635, a day after it was unchanged. It dropped 12 of the past 14 days.
The average price is 9.5 cents less than one week ago, 16.3 cents less than one month ago and 33.7 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.859 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped 2 cents to $4.557, a day after dropping four-tenths of a cent to $4.577.
It is 9.5 cents less than one week ago, 14.1 cents less than one month ago and 34.4 cents less than one year ago. It has dropped $1.902 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose one-tenth of a cent to $3.502, a day after it was unchanged.
It is 1.3 cents less than one week ago, 5.5 cents more than one month ago, and 9.2 cents less than one year ago. The national average price has dropped $1.514 since rising to a record $5.016 on June 14, 2022.
"Most of the country has seen a reprieve from rising gasoline prices, thanks to weaker-than-expected gasoline demand, building supplies and a quiet period in the tropics," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
"While a good portion of the nation saw average gas prices decline, severe weather completely knocked out power to a major refinery outside Chicago early last week, immediately impacting gasoline supplies to Illinois, Wisconsin, Indiana and Michigan, and pushing prices up considerably.
"We've often said how critical refineries are, and with a long power outage, we're seeing the impact very quickly, but relief will eventually arrive. For now, as we approach the end of summer vacations, I'm hopeful gas prices will continue to edge slightly lower in the week ahead."
Copyright 2024, City News Service, Inc.
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