Gas prices in Los Angeles And California Are Going Down, And They Could Go Down Even More.
After reaching record highs in many regions last week due to refinery outages, gasoline prices in the Los Angeles area and across California continued to fall Tuesday.
Speaking for the Southern California chapter of the American Automobile Association, Marie Montgomery Nordhues said that the average price of gas in Los Angeles dropped by about 4 cents from the day before, to $6.36 a gallon, marking the first significant drop from the previous day in the metro area in roughly ten years.
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She noted that the last time Los Angeles experienced such a dramatic one-day drop in gas prices was “almost exactly 10 years ago,” when then-Gov. Jerry Brown had recently switched the state to its winter-blend gas early, just as Gov. Gavin Newsom did last week after steep price increases due to gas supply issues.
While the state’s winter-blend is still tailored to California’s stricter environmental regulations, it is easier and cheaper for refineries to produce, according to experts.
According to a statement released by Nordhues on Tuesday, wholesale gasoline prices in Los Angeles are now lower than they were on September 20, when this price spike began in earnest and the average Los Angeles pump price was $5.46. Assuming the current trend continues, wholesale prices suggest that retail prices should fall by at least a dollar per gallon. However, estimating when this will happen is difficult.
While national gas prices rose slightly on Tuesday due to increased demand and higher oil prices following OPEC+’s decision to reduce production last week, the average price of a gallon of gas across the state fell by about 4 cents on Tuesday, to $6.29. Californian gas prices are still over $2 higher than the national average as of Tuesday ($3.92), according to AAA. While the national average was below $6 on Tuesday, prices in Nevada, Washington, Oregon, Alaska, and Hawaii were all over $5.
According to AAA, gas prices in Orange County dropped to $6.27 on Tuesday, down about 5 cents from Monday. The price in San Diego dropped to $6.30 (from $6.44 the previous week) by about 4 cents. Also experiencing roughly a 5-cent decrease on Tuesday were the counties of Riverside and San Bernardino. On Tuesday, the cost of living in Ventura County dropped by only 3 cents, to a total of $6.35.
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On Monday, prices dropped across the board in California, continuing a trend that began the previous week. Prices decreased by a few cents across the Bay Area on Tuesday, with San Francisco dropping to $6.50, San Jose dropping to $6.33, and Oakland dropping to $6.34.
The switch to cheaper winter blends and the return of some refineries from scheduled maintenance have helped bring down gas prices in California, according to AAA spokesman Andrew Gross.
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