LA County Gas Prices Drop for Seventh Time in Eight Days – Los Angeles

Los Angeles County’s average gallon price for self-serve regular gas dropped Monday, its seventh consecutive drop in eight days.

After a long run of increases, the steady decrease comes after record-breaking highs.

Monday’s average price dropped by four-tenths of cent to $6.418.

After setting records for 16 consecutive day, the average price dropped one-tenth to a cent on June 13, before reaching $6.462 on June 14. It is 4.1cs lower than one week before, 32.1cs more than one months ago, and $2.163 greater than one year after, according to the AAA/Oil Price Information Service.

Orange County’s price dropped 1.2 cents to $6.348 for the seventh consecutive day. It also broke records for 16 consecutive days, before falling on June 13. Orange County’s average price is 6c less than one week ago but 27.2c more than one month ago. It is also $2.134 higher than last year.

The California state averageFor $6.398, a gallon regular is $6.

Biden stated on Monday that he expects to announce a decision about a gas tax holiday by the end of this week.

“Yes, I’m considering it,”Biden said this to reporters after he had taken a walk on the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”

This move could save consumers up to 18.4 cents per gallon.

The U.S. Energy Information Administration estimates that crude oil costs account for about half of the pump prices. The remaining price includes gasoline components, production costs and distribution costs, overhead expenses for all involved in production and distribution, sales, taxes, and carbon offset fees paid by California refineries.

After an 18-day stretch of increases, the national average price for a gallon self-serve regular gasoline fell for the sixth consecutive morning. It dropped two-tenths to $4.981. The average price increased by 41.5 cents over the 18-day period, setting a new record every day. It fell by a quarter cent on Thursday, nine-tenths to a dollar Friday, 1.1cents Saturday, six-tenths to a cent Sunday, and a fifth of a percent Sunday.


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