Average LA County gas price drops to lowest amount since November 2021

City News Service
Sunday, December 11, 2022
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Gov. Gavin Newsom is proposing a crackdown on price gouging by oil companies, by imposing penalties on excessive profits that would be refunded to Californians.

LOS ANGELES (CNS) -- The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Sunday to its lowest amount since Nov. 12, 2021, decreasing for the 31st consecutive day and 64th time in 67 days since rising to a record.

The average price dropped 2.7 cents Sunday to $4.645, according to figures from the AAA and the Oil Price Information Service. It has fallen $1.849 since rising to a record $6.494 on Oct. 5, including 2 cents Saturday.

The average price is 21.7 cents less than one week ago, 88.3 cents lower than one month ago and 3.8 cents below what it was one year ago.

The Orange County average price dropped to its lowest amount since Oct. 25, 2021, decreasing for 30th consecutive day and 64th time in 67 days since rising to a record.

The Orange County average price dropped 1.9 cents to $4.521. It has fallen $1.836 since rising to a record $6.357 on Oct. 5, including 2.2 cents Saturday. It is 21.3 cents less than one week ago, 91.5 cents lower than one month ago and 13.7 cents below what it was one year ago.

The primary reasons for the continuing dropping prices are "ample fuel supplies and lower demand for fuel during this period between holiday travel periods," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service.

The national average price dropped for the 32nd consecutive day, falling 1.8 cents to $3.277. It is 13.6 cents less than one week ago, 51.7 cents lower than one month ago and 5.3 cents below what it was one year ago.

The national average price has dropped 52.8 cents over the past 32 days, including 2 cents Saturday. It is $1.739 lower than the record $5.016 set June 14.

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