Average LA County Gas Price Drops Two-Tenths of Cent

LOS ANGELES COUNTY -- The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped today, ending a streak of 35 days of increases, decreasing two-tenths of a cent to $4.959.

The average price has increased 39.5 cents over the past 36 days, including eight-tenths of a cent Wednesday, according to figures from the AAA and Oil Price Information Service. It is 7 cents more than one week ago and 28.5 cents higher than one month ago but 69.2 cents less than one year ago.

The average price has dropped $1.535 since rising to a record $6.494 on Oct. 5, 2022.

The national average price rose for the ninth consecutive day following a run of 29 decreases in 31 days totaling 15.3 cents, increasing 2.1 cents to $3.467. The national average price is 9.3 cents more than one week ago and 3 cents more than one month ago but 78.5 cents lower than one year ago.

The national average price has dropped $1.549 since rising to a record $5.016 on June 14.

``The national average rose last week as the transition to summer gasoline has now started across the entire country,'' said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

``The higher cost of these various blends is being passed along to motorists, as we see every year ahead of the summer driving season. Some regions are moving to the required summer gasoline in different steps then others, and the fragmentation of required blends absolutely plays a role in
these price increases.

``Logistical challenges in making the transition during a time when refiners are also doing maintenance work can create hot spots and lead to noticeable jumps in prices during the spring. While we may not see weekly increases, the overall trend will remain upward through much of the spring.

``By Memorial Day, most of the nation will have transitioned to their respective required blend of fuel, and gas prices could ease, but a $4 per gallon national average remains possible by then.''

-- City News Service