LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Saturday for the fourth consecutive day, decreasing six-tenths of a cent to $4.782.
The average price is 1.3 cents less than one week ago, 28.3 cents less than one month ago and 10.6 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.712 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price also dropped for the fourth consecutive day, decreasing a half-cent to $4.683. It is 1.4 cents less than one week ago, 29 cents less than one month ago and 13.6 cents lower than one year ago. The Orange County average price has dropped $1.776 since rising to a record $6.459 on Oct. 5, 2022.
"Local gas supplies appear to be tightening again after more than two months of price drops," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
"The Auto Club is projecting that more than five million Southern Californians will start heading out of town beginning this Saturday for Independence Day holiday getaways, so that fuel demand is likely helping to push up pump prices."
The national average price dropped seven-tenths of a cent to $3.496. It is 4.5 cents more than one week ago, but 7.9 cents less than one month ago and 5.3 cents lower than one year ago. It has dropped $1.52 since rising to a record $5.016 on June 14, 2022.
"Summer got off to a slow start last week with low gas demand," said Andrew Gross, an AAA national public relations manager. "But with a record 60 million travelers forecast to hit the road for the July 4th holiday, that number could pop over the next 10 days. But will oil stay above $80 a barrel, or will it sag again? Stay tuned."
Copyright 2024, City News Service, Inc.
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