Gasoline prices across Orange County continued their steady decline this past Saturday, marking the sixteenth consecutive day of decreases. The average price for a gallon of self-serve regular gasoline in Orange County fell by 2.6 cents, settling at $6.175. This continued drop follows a decrease of 1.6 cents on Friday and brings the total reduction over the past sixteen days to 23.2 cents, according to figures released by the AAA and Oil Price Information Service.
These recent price drops come after a prolonged period of increases that saw Orange County's average price rise significantly. Prior to the current streak of decreases, the region experienced 42 increases over 44 days, totaling 83.7 cents. This surge had pushed the average price to within 5.3 cents of its record high of $6.458, which was established on October 5, 2022. While current prices reflect a welcome change for motorists, the Orange County average price is still 6 cents more than one month ago and $1.513 more than one year ago. However, it is 11.5 cents less than it was just one week ago. The AAA and Oil Price Information Service also noted that the average price in Orange County has increased $1.539 since the beginning of the joint U.S./Israel war on Iran, which commenced on February 28.
Neighboring Los Angeles County has also seen similar relief at the pump. The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped for the fifteenth time in sixteen days on Saturday, decreasing by 2.8 cents to reach $6.241. Over the past sixteen days, Los Angeles County has seen a total decrease of 19.8 cents, including a 1.7 cent fall on Friday. This current trend reverses a previous 44-day streak of increases that added 79.7 cents to the average price, bringing it within 5.4 cents of its record high of $6.493, also set on October 5, 2022.
Current figures show the Los Angeles County average price is 10.9 cents less than one week ago. However, it remains 10.6 cents more than one month ago and $1.551 more than one year ago. Similar to Orange County, the Los Angeles average price has increased $1.547 since the start of the war on Iran on February 28, an event that reportedly sent oil prices higher and drastically accelerated increases at the gas pump, according to the same figures.
The primary reason for these recent drops in fuel prices is Governor Gavin Newsom’s announcement on September 28. The Governor stated that cheaper winter-blend gasoline would be permitted for immediate sale, rather than waiting for the customary November 1 date. This expedited transition to a less expensive fuel blend is now manifesting at the pumps across Southern California.
Despite the recent declines, California continues to stand out in the nation for its high fuel costs. Kandace Redd, a senior public affairs specialist for the Automobile Club of Southern California, stated on Thursday that California remains the only state with an average price above $6 a gallon. She also highlighted that Hawaii, Nevada, and Washington are the only other states where average prices exceed $5 a gallon. Redd added that Los Angeles wholesale gas prices have dropped significantly recently, suggesting ample momentum for pump prices to decline further in coming weeks, provided no supply issues emerge.
Nationally, the average price of gasoline also saw a decline, dropping nine-tenths of a cent to $4.308. This national average is 5.8 cents less than one week ago and 13 cents less than one month ago, though it is $1.257 more than one year ago. The national average has increased $1.326 since the "attack on Iran," as reported in the figures.
