Average LA County Gas Price Drops to Lowest Amount Since July 31, 2021

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Tuesday to its lowest amount since July 31, 2021, decreasing a half-cent to $4.373, one day after a run of 14 decreases in 15 days ended when it was unchanged.

The average price dropped 7.4 cents during the run, according to figures from the AAA and Oil Price Information Service. It is 2.8 cents less than one week ago, 9.3 cents lower than one month ago and 35.5 cents below what it was one year ago.

The average price has dropped $2.121 since rising to a record $6.494 on Oct. 5, 2022.

The national average price rose six-tenths of a cent to $3.03, a day after increasing one-tenth of a cent. It is 1.9 cents more than one week ago, but 4.2 cents less than one month ago and 3.8 cents lower than one year ago.

The national average price has dropped $1.986 since rising to a record $5.016 on June 14, 2022.

“As we edge closer to the end of the year, we’re seeing momentum for falling gas prices weaken, which is typical as the national average generally bottoms out between Thanksgiving and Christmas,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“With oil prices rising back above $70 last week, gas prices may have less potential to drop much further, though there may be a second window of lower prices in January or February in some areas, but even that won’t last long.

“While several states saw gas prices cycle last week, marked by a big jump in prices after a large decline, those that did see hefty jumps should see prices drift a bit lower, potentially making a second run at the season’s lowest prices. The West Coast, including California, should continue to see prices drift lower.”