LA Gas Prices Plummet; See Highest, Lowest Prices In Pacific Palisades

PACIFIC PALISADES, CA — The average price for a gallon of regular gas fell across Pacific Palisades to its lowest level since at least 2019 on Thursday, according to the latest figures from AAA.

Across Los Angeles County, the average price for a gallon of regular gas dropped 6.9 cents to $5.925, AAA reported.

The average price has dropped for 15 consecutive days since rising to a record high. Prices decreased 56.9 cents, including 6 cents Wednesday, according to figures from the AAA and Oil Price Information Service.

"Prices are rapidly dropping because the supply and refinery issues that caused them to skyrocket in September and early October were resolved when the state allowed early sales of winter blend gasoline, easing the supply crisis," Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service.

In Pacific Palisades on Thursday, the cheapest gas could be found at Chevron on 432 Wilshire Blvd for $5.69 per self serve gallon of regular gasoline, according to GasBuddy. The highest prices for regular gas could be found at a Mobil on 731 Santa Monica Blvd for $6.59 per gallon, GasBuddy reported.

After months of declining gas prices over the summer, prices catapulted to a record high in early October. On Oct. 5, California’s average price for a gallon of gasoline was a whopping $6.42. Montgomery told Patch that the prices were “almost unheard of.”

Prices began falling after Newsom allowed oil refineries to begin selling the more polluting winter-blend gasoline ahead of schedule to ease soaring fuel prices barrelling perilously toward an unprecedented $7 high. Stations normally cannot start selling winter blend gas until Nov. 1.

Earlier this month, Newsom also called on state lawmakers to pass a new tax on oil company profits and return the money to California taxpayers.

"They're ripping you off," he said of the oil industry.

READ MORE: CA's 'Unheard Of' Gas Prices Spike Again: 5 Things To Know

In neighboring Orange County, the average price has dropped 61.2 cents over the past 15 days, including 6.4 cents Wednesday, following a run of 15 increases in 16 days totaling $1.063 that ended Oct. 6. It is 36 cents less than one week ago, but 35.5 cents more than one month ago and $1.286 higher than one year ago.

Across the nation, the average price dropped for the eighth time in nine days, decreasing 1.8 cents to $3.836. It has dropped 8.7 cents over the past nine days, including 1.6 cents Wednesday. The national average price dropped five consecutive days, was unchanged Monday and resumed dropping Tuesday.

The national average price is 7.7 cents less than one week ago, but 16.2 cents more than one month ago and 47.9 cents higher than one year ago. It is $1.18 less than the record $5.016 set June 14.

City News Service contributed to this report.