LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Wednesday for the 12th consecutive day, decreasing 3.3 cents to $5.921.
The average price has dropped 39.4 cents over the past 12 days, including 3.9 cents Tuesday, according to figures from the AAA and Oil Price Information Service.
The decreasing prices follow a run of 23 increases in 25 days totaling 91.8 cents that boosted the average price to its highest amount since Oct. 11, 2022.
The average price is 27.5 cents less than one week ago and 43.7 cents lower than one year ago but 39.8 cents more than one month ago. It has dropped 57.3 cents since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price also dropped for the 12th consecutive day, decreasing 4.3 cents to $5.741. It has dropped 54.7 cents over the past 12 days, including 4.8 cents Tuesday.
The decreasing prices follow a run of 26 increases in 28 days totaling 97.2 cents that boosted the average price to its highest amount since Oct. 10, 2022.
The Orange County average price is 34.4 cents less than one week ago and 52.5 cents lower than one year ago but 24.4 cents more than one month ago. It has dropped 71.8 cents since rising to a record $6.459 on Oct. 5, 2022.
The decreasing prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board Sept. 28 directing it to allow refineries to begin making and distributing winter-blend gasoline, which is cheaper to produce.
Stations normally cannot start selling winter blend gas until Nov. 1.
"Uncertainty amid violence in the Middle East could send pump prices creeping upward again but we won't know for several days," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, told City News Service.
"While some analysts say we'll likely not see much of an impact, oil prices did spike in overnight trading following the Hamas attack on Israel, but not enough to impact gas prices. For now, our pump prices continue to move lower."
The national average price dropped for the 13th consecutive day and 21th time in 23 days, decreasing 1.9 cents to $3.663. It has dropped 21.8 cents over the past 22 days, including 2.2 cents Tuesday.
The national average price is 12.2 cents less than one week ago, 16.9 cents lower than one month ago and 26 cents below what it was one year ago. It has dropped $1.353 since rising to a record $5.016 on June 14, 2022.
The run of decreases follows an 11-day streak of increases totaling 7.8 cents.
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