For the 1st time in over a month, gas prices in LA County did not increase overnight

LOS ANGELES (KABC) -- A 33-day streak of increases that pushed the average price of a gallon of self-serve regular gasoline in Los Angeles County to records each of the past three days ended Thursday with a decrease of three-tenths of a cent to $6.491.

The average price rose $1.248 over the past 33 days, including a half-cent Wednesday, according to figures from the AAA and Oil Price Information Service. It is 23 cents more than one week ago, $1.20 higher than one month ago and $2.065 greater than one year ago.

The streak of increases followed a run of 78 decreases in 80 days totaling $1.216 that began June 15, one day after the average price rose to a then-record $6.462.

The Orange County average price dropped 2.3 cents to $6.436 after rising 15 of the previous 16 days and setting records Tuesday and Wednesday. It rose $1.063 over the previous 16 days, including 1.4 cents Wednesday.

A 33-day streak of increases that pushed the average price of a gallon of self-serve regular gasoline in Los Angeles County to records each of the past three days ended Thursday.

The Orange County average price is 18.5 cents more than one week ago, $1.198 higher than one month ago and $2.041 greater than one year ago.

The national average price rose for the 15th time in 16 days, increasing 3.6 cents to $3.867. The average price has increased 19.3 cents over the past 16 days, including 2.6 cents Wednesday. It rose for 11 consecutive days, dropped four-tenths of a cent Sunday and resumed increasing Monday.

The national average price is 8.5 cents more than one week ago, 8.8 cents higher than one month ago and 64.6 cents greater than one year ago. The national average price is $1.149 less than the record $5.016 set June 14.

The run of increases follows a 98-day streak of decreases totaling $1.342 that began the day after the record was set.

The alliance, which includes Saudi Arabia and Russia, has decided to sharply cut production to support sagging oil prices.

The slight dip in prices comes after OPEC+, alliance of oil-exporting countries around the world, announced it will cut oil production by 2 million barrels per day starting in November.

That raised concerns that the move would bring U.S. gas prices even higher, but AAA says any type of fallout from that decision likely won't be seen anytime soon.

"The OPEC announcement may make a difference in the long run for California gas prices, but the immediate impact is not going to as great just because we're already paying record prices at the pump right now," said Marie Montgomery with the Auto Club of Southern California.

President Joe Biden said the timing of OPEC's decision is not a coincident, but a ploy from the leaders of Russia and Saudi Arabia.

Gov. Gavin Newsom on Thursday also expressed his criticism of oil companies, saying they are ripping drivers off.

Newsom is now calling for a new tax on oil companies that he says would put money back in our pockets, but additional details weren't given.

Meanwhile, Californians could begin to receive up to $1,500 in gas relief money starting Friday.

California Middle Class Tax Refund payments go out this week. See when you'll get paid

Californians who qualify for the state's gas price relief program should start to see their payments in the next few weeks.

City News Service contributed to this report.