LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the 37th consecutive day Saturday, decreasing 2.8 cents to $4.484.
The average price has decreased $1.047 during the streak, including 3.1 cents Friday, to its lowest amount since Oct. 16, 2021, according to figures from the AAA and the Oil Price Information Service.
It has fallen 70 times in 73 days since rising to a record $6.494 on Oct. 5, decreasing $2.01. The average price is 18.8 cents less than one week ago, 94.3 cents lower than one month ago and 19.3 cents cheaper than one year ago.
The Orange County average price dropped for the 36th consecutive day, falling 2.3 cents to $4.362, its lowest amount since Sept. 27, 2001. It has fallen 70 times in 73 days since rising to a record $6.357 on Oct. 5, decreasing $1.995. It is 17.8 cents less than one week ago, 96.6 cents lower than one month ago, and 28.2 cents cheaper than one year ago.
"Oil Price Information Service reports that according to the California Energy Commission, the state's refinery production of gasoline has dropped for the fourth straight week and fuel stockpiles are now lower, but so is demand," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
"Even with lower production, Los Angeles and San Francisco wholesale gasoline prices are now lower than New York, so there should be further pump price drops ahead as long as that trend holds."
The national average price dropped for the 38th consecutive day, decreasing 1.9 cents to $3.159. The national average is 13.6 cents less than one week ago, 56.6 cents lower than one month ago, and 15.3 cents cheaper than one year ago. It has dropped 64.7 cents over the past 38 days, including 1.5 cents Friday, and is $1.857 lower than the record $5.016 set June 14.