LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the ninth time in 10 days, increasing a half-cent to $4.657.
The average price has increased 9.7 cents over the past 10 days, including six-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 9.3 cents more than one week ago and 14.7 cents higher than one month ago, but 8.8 cents less than one year ago.
The average price has dropped $1.837 since rising to a record $6.494 on Oct. 5.
The Orange County average price rose 2.4 cents to $4.625. It is 13 cents more than one week ago and 20.1 cents higher than one month ago, but 10 cents less than one year ago.
The Orange County average price has dropped $1.834 since rising to a record $6.459 on Oct. 5
The national average price fell for the 11th consecutive day following a 17-day streak of increases, dropping 1.2 cents to $3.445. It is 5.6 cents less than one week ago but 16.4 cents more than one month ago and 1 cent higher than one year ago.
The national average price has decreased 6.5 cents over the past 11 days after rising 24.3 cents during the 17-day streak of increases. It has dropped $1.571 since rising to a record $5.016 on June 14.
“For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“While the decline in both gasoline and diesel prices is terrific, it’s not unusual to see prices falling in February, which tends to be the month with some of the lowest gasoline prices of the year thanks to seasonally weak demand,” he added. “For now, motorists should enjoy the decline, but be wary, as we’re likely to eventually see increases again down the road.”