Average LA County gas price records largest decrease since at least 2020

Could higher gas prices be coming as OPEC announces cut in oil production?

Gas prices in California have set records in recent days. Some consumers are worried prices will continue to rise as OPEC announced a cut to oil production. But experts say California prices may stay where they're at.

LOS ANGELES - The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest decrease since at least February 2020 Wednesday, dropping 4.7 cents to $6.311, its seventh consecutive decrease after rising to a record.

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

The average price is 18.3 cents less than one week ago but 91.9 cents more than one month ago and $1.868 higher than one year ago mainly due to a 33- day streak of increases totaling $1.248 that ended Thursday with a decrease of three-tenths of a cent.

The Orange County average price dropped 5.3 cents Wednesday to $6.213. It has also dropped seven consecutive days after rising to a record, decreasing 24.6 cents, including 5.4 cents Tuesday following a run of 15 increases in 16 days totaling $1.063.

The Orange County average price is 24.6 cents less than one week ago but 85.3 cents more than one month ago and $1.804 higher than one year ago.

"Gas prices in California are finally cooling off, as more refineries come back online after undergoing maintenance and the switch to cheaper winter blends takes effect," said Andrew Gross, an AAA national public relations manager.

The national average price dropped one-tenth of a cent to $3.922. It ended a streak of increases in 20 of the past 21 days, including four-tenths of a cent on Tuesday. It rose for 11 consecutive days, dropped four-tenths of a cent Oct. 2 and resumed increasing Oct. 3.

The national average price is 9.1 cents more than one week ago, 20.6 cents higher than one month ago and 64.3 cents greater than one year ago.

The national average price is $1.092 less than the record $5.016 set June 14.

The run of increases follows a 98-day streak of decreases totaling $1.342 that began the day after the record was set.

"High West Coast prices have played a major role in the recent climb in the national average for gas," Gross said. "Reversing this trend may help take some pressure off of pump prices."