The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest decrease since April 2, 2020 on Saturday, dropping below $6 for the first time since March 21.
The average price dropped 2 cents to $5.999, squeaking just under $6. The 2-cent drop comes after back-to-back decreases of 1.9 cents, according to figures from the AAA and Oil Price Information Service, setting a new record for the largest overnight decrease since April 2020.
It has dropped 7.1 cents over the past seven days following a 32-day streak of increases totaling $1.283. It is 7.1 cents less than one week ago but $1.071 higher than one month ago and $2.045 more than one year ago.
The California state average, according to AAA, is now at $5.864 for one gallon of regular unleaded gasoline.
The Orange County average price recorded its largest decrease since at least September 2019, dropping 2.9 cents to $5.947. It has dropped 8 cents over the past seven days, including 1.8 cents on both Thursday and Friday, following a 35-day streak of increases totaling $1.277.
Despite the recent decreases, the Orange County average price is $1.043 higher than one month ago and $2.013 more than one year ago.
Here are the gas prices around Southern California counties, as of Saturday morning:
- Los Angeles County: $5.999
- Ventura County: $5.999
- San Bernardino County: $5.937
- Orange County: $5.947
- Riverside: $5.909
"With the (Strategic Petroleum Reserve) release keeping oil (prices) down, we'll see most/all areas decline over the weekend and into next week," according to Patrick De Haan, head of petroleum analysis for GasBuddy, which provides real-time gas price information from more than 150,000 stations.