The average price of a gallon of self-serve regular gasoline in Los Angeles County has recently experienced a significant drop, reaching its lowest level since early 2023. Specifically, the price decreased to $4.584, marking a decrease of 1.4 cents.
This decline in gas prices has been consistent over a 14-day period, with a total decrease of 17.3 cents. The decrease includes a drop of 1.9 cents on a single Wednesday, contributing to the overall reduction.
It’s important to note that these changes in gas prices are not isolated to a single day but reflect a broader trend over the past few weeks. The average price is now 8.3 cents lower than it was a week ago and 14.4 cents lower than a month ago. However, it is still 7.8 cents higher than the price one year ago.
The record high for the average price was $6.494, recorded on October 5, 2022. Since then, the average price has decreased by $1.91.
On a national scale, the average price of gas rose slightly following a series of decreases. Over a period of 21 days, the national average saw 19 decreases, totaling a reduction of 5.9 cents. However, it then increased by six-tenths of a cent to $3.094.
This recent rise in the national average price includes an increase of 1.6 cents on a Wednesday, and over the past three days, the national average has gone up by 2.6 cents. Despite these recent increases, the national average price is still lower than it was in the past: it’s 1.7 cents more than a week ago, 2.8 cents higher than a month ago, but 26.5 cents less than one year ago.
The national average has also seen a significant drop since its record high of $5.016 on June 14, 2022, with a total decrease of $1.922
