Find Cheap Gas Near Palos Verdes: Gas Prices Fall For 14th Day

PALOS VERDES, CA — It's been two solid weeks since the cost of self-serve regular gasoline has risen in Los Angeles County, according to the AAA and Oil Price Information Service. The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the 14th consecutive day, decreasing 3.6 cents to $5.845.

Near Palos Verdes, GasBuddy.com tracked the cheapest gas to a Costco Gas station located at 2640 Lomita Boulevard and Crenshaw Boulevard in the city of Torrance. The majority of Costco stations were selling at $ 4.99 per gallon of self-serve regular gasoline as of Friday morning.

Across Los Angeles, the average unleaded gasoline price has dropped 47 cents over the past 14 days, including 4 cents Thursday, according to figures from the AAA and Oil Price Information Service.

The decreasing prices follow a run of 23 increases in 25 days, totaling 91.8 cents which boosted the average price to its highest amount since Oct. 11, 2022.

The average price is 23.8 cents less than one week ago and 41.2 cents lower than one year ago but 26.2 cents more than one month ago. It has dropped 64.9 cents since rising to a record $6.494 on Oct. 5, 2022.

The decreasing prices stem from Gov. Gavin Newsom sending a letter to the California Air Resources Board Sept. 28 directing it to allow refineries to begin making and distributing winter-blend gasoline, which is cheaper to produce.

Stations normally cannot start selling winter blend gas until Nov. 1.

"Los Angeles wholesale gasoline prices did move up this week after the Hamas terrorist attacks on Israel," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.

"But both oil prices and wholesale prices dropped in the last couple of days and today wholesale prices are at about the same level as in late June, when average gas prices were under $5 a gallon."

The national average price dropped for the 15th consecutive day and 23rd time in 25 days, decreasing 1.8 cents to $3.628. It has dropped 25.3 cents over the past 25 days, including 1.7 cents Thursday.

The national average price is 11.8 cents less than one week ago, 22 cents lower than one month ago and 28.5 cents below what it was one year ago. It has dropped $1.388 since rising to a record $5.016 on June 14, 2022.

The run of decreases follows an 11-day streak of increases totaling 7.8 cents.

City News Service, Patch Editor Ashley Ludwig contributed to this report.