The average price of a gallon of self-serve regular gasoline in Los Angeles County was at its lowest amount for a Memorial Day since 2021 Monday, $4.803.
Monday's increase of four-tenths of a cent came one day after a six- day streak of decreases totaling 2.7 cents ended with an increase of one-tenth of a cent, according to figures from the AAA and the Oil Price Information Service.
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The average price is 2.1 cents less than one week ago, 1.1 cents more than one month ago and 27.8 cents less than one year ago. It has dropped $1.69 since rising to a record $6.493 on Oct. 5, 2022.
The 2024 Memorial Day average of $5.082 was the second highest average on Memorial Day behind 2022's $6.162, three months after Russia's invasion of Ukraine, which impacted the global supply of oil. The 2021 average was $4.227.
The Orange County average price of $4.715 was also its lowest for a Memorial Day since 2021, when it was $4.176. It was unchanged Monday, ending a 10-day streak of decreases totaling 5.3 cents, including six-tenths of a cent Sunday.
The Orange County average price is 2.9 cents less than one week ago, 2.9 cents more than one month ago and 27.3 cents less than one year ago. It has dropped $1.743 since rising to a record $6.458 on Oct. 5, 2022.
The 2024 Memorial Day average of $4.986 was the second highest average on Memorial Day behind 2022's $6.143.
The national average price was also at its lowest amount for a Memorial Day since 2021, when it was $3.04, dropping two-tenths of a cent to $3.179. It has fallen three consecutive days, decreasing 1.7 cents, including six-tenths of a cent Sunday.
The national average price is unchanged from one week ago, 2.6 cents more than one month ago and 41.3 cents less than one year ago. It has dropped $1.837 since rising to a record $5.016 on June 14, 2022.
Supply and demand are playing a role in the stable pump prices as crude oil supply is currently surpassing demand, according to the AAA.
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