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LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent today to $4.589, one day after a run of 23 increases in 24 days totaling 14.9 cents ended when it was unchanged.
The average price is 1 cent more than one week ago, 16.3 cents higher than one month ago and $1.433 greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price dropped two-tenths of a cent to $4.542, one day after decreasing three-tenths of a cent, the first time it declined since Oct. 11.
The Orange County average price is a half-cent more than one week ago, 14.7 cents higher than one month ago and $1.424 greater than one year ago.
The increases to the pump price have been reduced because stations were allowed to start selling the winter blend of gasoline, which is generally cheaper to produce, on Monday and the oil price has stabilized, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has dropped from its 52-week high of $84.65 hit Oct. 26, 2021, to $81.27 Friday.