Southland gas prices drop slightly

LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped four-tenths of a cent Saturday to $5.368.

The average price is 2.1 cents less than one week ago, but 30.9 cents more than one month ago and 45.2 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.126 since rising to a record $6.494 on Oct. 5, 2022.

The Orange County average price dropped a half-cent to $5.291. It is 4.2 cents less than one week ago, but 27.5 cents more than one month ago and 41.6 cents higher than one year ago. The Orange County average price has dropped $1.168 since rising to a record $6.459 on Oct. 5, 2022.

"For the first time in almost two months prices in Southern California have slightly decreased," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
"The reasons for gas prices moving lower include slowing domestic gasoline demand between spring break and summer travel, as well as the cost of crude oil retreating."

The national average price decreased one-tenth of a cent to $3.659. It is 1.7 cents less than one week ago, but 12.4 cents more than one month ago and 2.3 cents higher than one year ago. The national average price has dropped $1.357 since rising to a record $5.016 on June 14, 2022.

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