Gas prices in L.A. County hit a new low, falling below $5 per gallon for the first time since July, bringing an average total of $4.98. Over the last 60 days, the average price has dropped on 59 occasions, with a cumulative decrease of $1.33, according to AAA and the Oil Price Information Service.
“We continue to see gas price averages move lower because of ample supply, and the market is continuing its recovery from the September price spike,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement. “November, December, and January are typically the months when we see the lowest prices for gasoline since the winter months experience the lowest demands of the year.”
The initial drop comes from Gov. Newsom’s decision to release winter-blend gas prematurely, as its prices are approximately 20-25 cents cheaper per gallon than the summer blend. Back in October, Newsom predicted that prices would rapidly decline if the California Air Resources Board approved the waiver that has now allowed the use of that gas.
Orange County, for example, experienced a record low, with average gas prices dropping for the 28th time in 29 days, decreasing to $4.832, its lowest amount since June 30. The county’s average price has dropped $1.62 since rising to a record $6.45 in October of last year.
The national average price across the country extended its 61-day consecutive decline at $3.30, reaching a new low since January— but California’s strict environmental regulations have resulted in gasoline prices remaining $1 higher than the national average.