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By Gas Buddy 

This is the Week to Buy Gasoline in Los Angeles, Price Averages $4.76 per Gallon

Despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in.

 

December 7, 2022

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For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January

Average gasoline prices in Los Angeles have fallen 27.3 cents per gallon in the last week, averaging $4.76/g today, according to GasBuddy's survey of 2,135 stations in Los Angeles. Prices in Los Angeles are 69.5 cents per gallon lower than a month ago and stand 9.3 cents per gallon higher than a year ago. The national average price of diesel has fallen 13.6 cents in the last week and stands at $5.06 per gallon.

According to GasBuddy price reports, the cheapest station in Los Angeles was priced at $3.99/g yesterday while the most expensive was $6.79/g, a difference of $2.80/g. The lowest price in the state yesterday was $3.35/g while the highest was $6.89/g, a difference of $3.54/g.

The national average price of gasoline has fallen 15.8 cents per gallon in the last week, averaging $3.36/g today. The national average is down 43.0 cents per gallon from a month ago and stands 1.5 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Los Angeles and the national average going back ten years:

December 5, 2021: $4.67/g (U.S. Average: $3.34/g)

December 5, 2020: $3.14/g (U.S. Average: $2.16/g)

December 5, 2019: $3.77/g (U.S. Average: $2.60/g)

December 5, 2018: $3.50/g (U.S. Average: $2.44/g)

December 5, 2017: $3.19/g (U.S. Average: $2.47/g)

December 5, 2016: $2.73/g (U.S. Average: $2.18/g)

December 5, 2015: $2.79/g (U.S. Average: $2.04/g)

December 5, 2014: $3.05/g (U.S. Average: $2.70/g)

December 5, 2013: $3.61/g (U.S. Average: $3.24/g)

December 5, 2012: $3.75/g (U.S. Average: $3.38/g)

Neighboring areas and their current gas prices:

Riverside- $4.66/g, down 27.1 cents per gallon from last week's $4.93/g.

Orange County- $4.68/g, down 31.2 cents per gallon from last week's $4.99/g.

Ventura- $4.85/g, down 29.8 cents per gallon from last week's $5.15/g.

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GasBuddy is the authoritative voice for gas prices and the only source for station-level data.

"For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas. There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March. However, despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in. Retaliation is possible, and while OPEC+ upheld production cuts from last month, they could always cut more production. For now, however, we'll likely see another week of declines at the pump in nearly all areas."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.

 

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