February 28, 2024 The Newspaper Serving LGBT Los Angeles

Fueling Optimism: Los Angeles Gas Prices Hit Lowest in Nearly a Year

Downward Trend Continues with 14 Consecutive Days of Price Drop

Gas prices for self-serve gasoline in Los Angeles County reached their lowest point since February 2, 2023, as they declined by 1.4 cents to $4.584 on Thursday, as reported by ABC 7 News.

This marks the 14th consecutive day of decline, with a total decrease of 17.3 cents, including a 1.9-cent drop on Wednesday, according to data from AAA and the Oil Price Information Service. The current average is 8.3 cents lower than just a week ago and 14.4 cents below the price recorded a month ago. However, it remains 7.8 cents higher than the same period last year.

The average price has seen a significant reduction of $1.91 since reaching a record high of $6.494 on October 5, 2022.

“Last week was a bit of a mixed bag for gasoline prices, with prices increasing early on but falling again in recent days as the situation in the Red Sea continues to drive market volatility,” said Patrick De Haan, head of petroleum analysis at GasBuddy as quoted by ABC 7 News.

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