LOS ANGELES (KNX) — The average price of a gallon of self-serve, regular gasoline in Los Angeles County recorded its biggest drop since April 2, 2020 on Thursday — 1.9 cents to $6.038.
The average price dropped 3.2 cents over the last five days, following a 32-day streak of hikes totalling $1.283, according to AAA and the Oil Price Information Service.
The average gas price in Orange County also recorded its largest drop since April 8, 2020, dropping 1.8 cents to $5.994. It dropped 3.3 cents over the last five days following 35 straight days of increases totaling $1.277.
"Los Angeles wholesale gasoline prices have dropped substantially since Friday, although they are still higher than they were a month ago," Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service on Thursday.
"According to Oil Price Information Service, West Coast gasoline traders attributed the drop to the arrival of imported gasoline and gasoline components, easing concerns about supply. We should see further price drops at the pump as long as wholesale prices don't swing upward again."
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