US gas prices dip just below $4 for the first time in 5 months, but SoCal drivers still paying more

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Thursday, August 11, 2022
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Gasoline prices in the U.S. dipped to just under the $4 mark for the first time in more than five months, but drivers in Southern California are still paying well above that at the pump.

Gasoline prices in the U.S. dipped to just under the $4 mark for the first time in more than five months - good news for consumers who are struggling with high prices for many other essentials.

AAA said the national average for a gallon of regular was $3.99 on Thursday. Prices have dropped 15 cents in the past week and 68 cents in the last month, according to the auto club.

The shopping app GasBuddy reported that the national average was already down to $3.98 on Wednesday.

The nationwide average for gas hasn't been under $4 since early March. Prices topped out at $5.02 a gallon on June 14, according to AAA. They declined slowly the rest of June, then began dropping more rapidly.

However, in some parts of the country, drivers are still paying more at the pump than the national average.

Motorists in California and Hawaii are still paying above $5, and other states in the West are paying close to that.

According to AAA, California's average gas price is $5.38. In Los Angeles County, the average is $5.41 per gallon and $5.30 in Orange County.

The cheapest gas is in Texas and several other states in the South and Midwest. The decline reflects falling prices for crude oil, which have dipped close to $90 a barrel from over $120 a barrel in June.

A year ago, the nationwide average price was around $3.20 a gallon.

The Associated Press contributed to this report.