Gasoline price dips slightly

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent at mid-week to $4.562, a day after dropping three-tenths of a cent.
The average price is 1 cent less than one week ago, 9.2 cents less than one month ago and 79.2 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.932 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price rose four-tenths of a cent to $4.489, a day after dropping seven-tenths of a cent. It is eight-tenths of a cent less than one week ago, 9.2 cents less than one month ago and 81.3 cents less than one year ago. The Orange County average price has dropped $1.97 since rising to a record $6.459 on Oct. 5, 2022.
The national average price dropped six-tenths of a cent to $3.398, a day after dropping seven-tenths of a cent.
It is 4.7 cents less than one week ago, 10.3 cents less than one month ago and 46.7 cents less than one year ago. The national average price has dropped $1.618 since rising to a record $5.016 on June 14, 2022.
“Gasoline and diesel prices continue to trail off across much of the country as summer demand fades away. Lower demand in other oil-consuming nations is also helping to lead the downward pressure on pump prices as we approach Labor Day,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000
stations.
“With little new action in the Middle East to rile up prices and Hurricane Ernesto remaining far out at sea, it looks like the downward trend could continue into the week ahead. As more schools begin to resume, gasoline demand will likely continue to ease. With the transition to winter gasoline less than a month away for the majority of the nation, gas prices will soon begin their seasonal cooling off, just as temperatures soon will as well.”