Orange County drivers are seeing relief at the pump as the average price for a gallon of self-serve regular gasoline dropped to $5.994 on Saturday, marking the 23rd consecutive day of price decreases. This sustained decline, totaling 41.1 cents over the past 23 days, including a 2.4 cent drop on Friday, brings local prices below the $6 mark for the first time in weeks, according to figures from the AAA and Oil Price Information Service.
The significant drop follows Governor Gavin Newsom's September 28 announcement, which permitted the immediate sale of cheaper winter-blend gasoline. Traditionally, the switch to winter-blend fuel, which is less expensive to produce, does not occur until November 1. This early intervention is directly credited with accelerating the recent price reductions.
For residents commuting on I-5 or parents driving to Capistrano Unified schools, this trend offers a welcome change. The Orange County average price is now 18.1 cents less than it was one week ago and 27.1 cents less than one month ago. However, despite the recent drops, gas prices remain considerably higher than they were a year ago, standing at $1.41 more than the average price at this time last year. Furthermore, the average price has increased by $1.358 since February 28, following the start of the joint U.S./Israel war on Iran, which contributed to rising oil prices.
Prior to this current streak of decreases, Orange County experienced a challenging period at the pumps, with prices rising for 42 out of 44 days, accumulating an increase of 83.7 cents. This surge had pushed the average price within 5.3 cents of its record high of $6.458, which was set on October 5, 2022.
Similarly, in neighboring Los Angeles County, the average price of a gallon of self-serve regular gasoline also saw continued decreases, dropping for the 22nd time in 23 days on Saturday. The price fell 2.9 cents to $6.105, contributing to a total decrease of 33.4 cents over the past 23 days, including a 1.7 cent drop on Friday. This decline in Los Angeles County follows a 44-day streak of increases that totaled 79.7 cents, bringing its average price within 5.4 cents of its own record high of $6.493, also set on October 5, 2022.
The Los Angeles County average price is 13.6 cents less than one week ago and 17.7 cents less than one month ago. Despite these recent reductions, it is $1.472 more than one year ago and has increased $1.411 since the start of the war on Iran on February 28.
While local prices are falling, the broader outlook for gas prices faces upward pressure. According to a statement released Thursday by the AAA, "High crude oil prices are preventing steep declines at the pump." The statement highlighted that the price for a barrel of crude oil is currently nearing $100 amid instability in the Strait of Hormuz. The AAA also noted that this month is on track to become the most expensive October ever for gas prices, following similar record-setting months in August and September of this year.
Nationally, the average price for gasoline saw a slight rise of three-tenths of a cent, reaching $4.295. This national average is 1.3 cents less than one week ago and 18.7 cents less than one month ago, but $1.228 more than one year ago. The national average price has increased $1.313 since the attack on Iran.
