The average price of a gallon of regular gasoline at self-dispensing stations in Los Angeles County fell for the 40th time in the past 41 days on Sunday, falling seven-tenths of a cent to $4.814, the lowest since February 27.
The average price has fallen 50.2 cents over the past 41 days, including seven-tenths of a cent on Saturday, according to figures from AAA and the Oil Price Information Service. That puts it 8.3 cents below a week ago, 39.6 cents below a month ago and 12.7 cents below a year ago. It has fallen $1.68 since its record high of $6.494 on Oct. 5, 2022.
The average price in Orange County fell for the 33rd time in the past 34 days, dropping four-tenths of a cent to $4.689, the lowest since Feb. 9. It has fallen 46.1 cents in the past 34 days, including 1.4 cents on Saturday. It is 9.9 cents lower than a week ago, 43.5 cents less than a month ago, 18.1 cents less than a year ago and has fallen $1.77 since rising to a record high of $6.459 on Oct. 5, 2022.
“The Oil Price Information Service reports that the latest data from the Energy Information Administration shows that West Coast refinery utilization reached its highest production level of 2024 earlier this month,” said Doug Shupe, corporate communications manager for the Automobile Club of Southern California.
“California still has the highest gasoline prices in the U.S., but this week, for the first time since March, gasoline prices in most regions are lower than they were this time a year ago,” he added.
The national average price fell half a cent to $3.447, down two-tenths of a cent from a week ago, 15.3 cents from a month ago, 13.6 cents from a year ago, and down $1.569 since rising to a record high of $5.016 on June 14, 2022.
“Gasoline demand has lagged 2023 demand for most of this year, and analysts believe economic uncertainty could dampen demand this summer,” said Andrew Gross, national public relations manager for AAA. “So is the typical robust summer driving season a thing of the past? Or is it simply taking longer for gasoline demand to pick up? We may not know until the fall.”
