Californians are getting a little relief at the gas pump these days.
Statewide, the average price for a gallon of regular unleaded fell 3 cents on Wednesday to $5.73, according to the American Automobile Association. That’s 24 cents lower than one week ago when California drivers were paying nearly $6 per gallon on average.
In the Los Angeles area, regular unleaded fell from $5.95 to $5.92 per gallon, 28 cents lower than last week.
As is often the case, California drivers are still paying significantly more for gasoline than those in other states – all other states.
Wednesday’s national average was $3.66 per gallon, and California is now the only state with prices above $5, according to AAA.
Washington and Hawaii recently dipped below the five dollar mark.
AAA says prices are falling nationwide due to “slack demand” and retreating crude oil, which is now hovering near $82 per barrel.
“Drivers are finally seeing some relief at the pump as the seasonal swoon picks up momentum,” said AAA spokesperson Andrew Gross.
|California Gas Prices (10/11/23)||Regular||Mid-Grade||Premium||Diesel|
|Week Ago Avg.||$5.975||$6.229||$6.370||$6.454|
|Month Ago Avg.||$5.439||$5.635||$5.798||$6.097|
|Year Ago Avg.||$6.289||$6.518||$6.658||$6.598|
Gov. Gavin Newsom has accused oil companies of “gouging” California drivers and, earlier this year, signed legislation aimed at exposing and penalizing Big Oil for alleged market manipulation. Industry experts, however, say California’s regulatory environment and limited refinery capacity are significant factors.