LOS ANGELES - Gas prices are slowly starting to go down after reaching an all-time high earlier this year.
The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased for the 12th consecutive day Saturday, dropping 1.8 cents to $5.873.
The average price has dropped 19.3 cents over the past 12 days, including 2.6 cents Friday, which was its largest decrease since March 26, 2020, according to figures from the AAA and Oil Price Information Service. It is 12.6 cents less than one week ago but 22.2 cents higher than one month ago and $1.901 more than one year ago.
The average price rose $1.283 during a 32-day streak of increases that ended March 27.
The Orange County average price dropped for the 11th consecutive day, decreasing 1.9 cents to $5.83. It has dropped 19.9 cents over the past 11 days, including 2.5 cents Friday.
The Orange County average price is 11.7 cents less than one week ago but 18.6 cents more than one month ago and $1.879 higher than one year ago. It rose $1.277 during a 35-day streak of increases that ended March 27.
At the end of March, President Joe Biden ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months, a bid to control energy prices that have spiked after the United States and allies imposed steep sanctions on Russia over its invasion of Ukraine.
Tapping the stockpile would create pressures that could reduce oil prices, though Biden has twice ordered releases from the reserves without causing a meaningful shift in oil markets.
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