Californians are enjoying a little more 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 per gallon to $5.92 per gallon Wednesday, down 28 cents from last week.
AAA says prices are falling nationwide due to “slack demand” and the falling cost of 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|
As is often the case, California drivers are still paying significantly more for gasoline than those in 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.
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. Experts, however, say California’s regulatory environment and a lack of refinery capacity are more significant factors.