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LA County’s median gas price sees its biggest drop since at least 2020

LOS ANGELES (CNS) — The median price for a gallon of self-serve regular gasoline in Los Angeles County posted the largest drop since at least Wednesday in February 2020, falling 4.7 cents to $6.311, its seventh straight decline after rising to a record.

The average price has fallen 18.3 cents over the past seven days, including 4.3 cents on Tuesday, according to figures from the AAA and the Oil Price Information Service.

The median price is 18.3 cents down from a week ago, but 91.9 cents up from a month ago and $1.868 up from a year ago, mainly due to a 33-day streak totaling $1.248 that ended with a decline on Thursday of three tenths of a year ended cents.

Note: The video in the media player above is from a previous report.

Orange County’s median price fell 5.3 cents today to $6,213. It’s also down for seven straight days after rising to a record, falling 24.6 cents, including 5.4 cents on Tuesday after a string of 15 gains in 16 days to total $1.063.

The median price in Orange County is 24.6 cents down from a week ago, but 85.3 cents up from a month ago and $1,804 up from a year ago.

“California gas prices are finally cooling as more refineries come back on line after maintenance and the shift to cheaper winter blends takes effect,” said Andrew Gross, a national public relations manager for AAA.

The national median price fell a tenth of a cent to $3,922. It ended a streak of increases in 20 of the last 21 days, including four-tenths of a cent on Tuesday. It rose for 11 consecutive days, falling four tenths of a cent on October 2nd and rising again on October 3rd.

The national median price is 9.1 cents higher than a week ago, 20.6 cents higher than a month ago and 64.3 cents higher than a year ago.

The national median price is $1,092 below the record price of $5,016 set on June 14th.

The streak of increases follows a 98-day streak of declines totaling $1,342 that began the day after the record was set.

“High West Coast prices have played a major role in the recent rise in the national average for gas,” Gross said. “Reversing this trend may help ease some of the pressure on pump prices.”

Copyright 2022, City News Service, Inc.

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