LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the fourth consecutive day Sunday following a 35-day streak of increases, decreasing two-tenths of a cent to $4.947.
The average price has dropped 1.4 cents over the past four days, including four-tenths of a cent Saturday, according to figures from the AAA and Oil Price Information Service.
It is a half-cent more than one week ago and 24.8 cents higher than one month ago, but 86.7 cents less than one year ago. The average price has dropped $1.547 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped one-tenth of a cent to $4.906. It is 1.3 cents less than one week ago, 23.8 cents more than one month ago, and 88.3 cents less than one year ago. The Orange County average price has dropped $1.553 since rising to a record $6.459 on Oct. 5.
The national average price decreased two-tenths of a cent to $3.472, one day after a 10-day streak of increases ended when it was unchanged. The national average price is 7 cents more than one week ago and 5.3 cents higher than one month ago, but 85.4 cents less than one year ago. It has dropped $1.544 since rising to a record $5.016 on June 14.
"Less expensive oil and fewer people fueling usually combine to lower pump prices," said Andrew Gross, an AAA national public relations manager. "However, there is some upward pricing pressure at the moment due to the switch to summer blend gasoline, which may add about 5 to 10 cents per gallon. But if demand and oil costs remain low, this recent price bounce may fade."