California drivers are enjoying a little holiday cheer at the gas pump.
The average price of regular unleaded gasoline dropped to $4.37 per gallon statewide Monday, down 15 cents from a week ago and 93 cents from a month ago, according to AAA.
In the Los Angeles area, regular unleaded is $4.47/gallon.
“The cost of oil, gasoline’s main ingredient, has been hovering in the low-to-mid $70s per barrel, and that’s $50 less than the peak last Spring,” said AAA spokesperson Andrew Gross. “Combined with low seasonal demand, gas prices could slide a bit more before leveling off.”
Despite the decline, California is still well above the national average of $3.14/gallon.
Those searching for the cheapest gas in Los Angeles will often find it at Walmart, Costco, and Sam’s Club locations.
According to Gas Buddy, which tracks gasoline prices station-by-station, Walmart at 17150 Gale Ave. in the City of Industry has the area’s lowest gas at $3.55/gallon.
The lowest price among non-retailers was Berri Brothers in Mission Viejo where drivers can fill up on regular unleaded for $3.59/gallon.
Gov. Gavin Newsom has accused of oil companies of “gouging” California drivers with gas prices that have risen disproportionately in the Golden State and has proposed enforcing penalties based on oil company profits.