The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Tuesday, July 26, for the 42nd consecutive day since rising to a record, dropping 2.6 cents to $5.753, its lowest amount since March 9.
The average price has dropped 70.9 cents over the past 42 days, including nine-tenths of a cent Monday, following an 18-day streak of increases totaling 36.9 cents, according to figures from the AAA and the Oil Price Information Service.
The average price is 18 cents less than one week ago and 60.1 cents lower than one month ago, but $1.395 more than one year ago. It has dropped 70.9 cents since rising to a record $6.462 June 14.
“Consumers appear to be taking the pressure off their wallets by fueling up less,” said Andrew Gross, an AAA national public relations manager. “And there’s reason to be cautiously optimistic that pump prices will continue to fall, particularly if the global price for oil does not spike. But the overall situation remains very volatile.”
The national average price dropped for the 42nd consecutive day following an 18-day streak of increases, decreasing 2.8 cents to $4.327. It has dropped 68.9 cents over the past 42 days, including 1.1 cents Monday, after rising 41.5 cents during the 18-day streak of increases.
The national average price is 16.8 cents less than one week ago and 57.3 cents lower than one month ago, but $1.171 more than one year ago. It has dropped 66.1 cents since rising to a record $5.016 June 14.