May 20, 2024 The Newspaper Serving LGBT Los Angeles

Fueling Optimism: Gas Prices Dip in Los Angeles County After 78-Day Surge

Average Price Falls to $4.715, Offering Relief at the Pump

Gas prices have finally gone down just in time for Christmas. The cost of self-serve regular gasoline in Los Angeles County experienced a decline on Tuesday, following a series of 78 increases in 79 days. The run of price hikes, which amounted to $1.587, concluded with a day of no change.

As of Tuesday, the average price dropped by 1.3 cents to $4.715, marking its lowest level since February 14, as reported by AAA and the Oil Price Information Service. This represents a decrease of 10.4 cents from the previous week and 37.6 cents from the preceding month. However, it remains 24.2 cents higher than the average price recorded one year ago.

Since reaching a record high of $6.494 on October 5, 2022, the average price has decreased by $1.779.

The national average price, which had seen an 18-day streak of decreases totaling 18.2 cents, rose by 1.4 cents to $3.08. This is 5.7 cents less than the previous week, 23.3 cents lower than the preceding month, and 6.2 cents cheaper than the average price recorded one year ago. The national average price has reduced by $1.936 since reaching a record high of $5.016 on June 14, 2022.

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