Business & Tech

Are Gas Prices Heading Downward?

A decline in wholesale prices gives tentative hope that prices at the pump will soon drop as well.

The average price of a gallon of self-serve regular gasoline in Orange County was unchanged, remaining at $4.37, one day after dropping seven-tenths of a cent.  It is a half-cent less than a week ago, but 34.6 cents more than one month ago and 41.5 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service.

The cheapest place to get a gallon of regular gas in Mission Viejo is at Arco, 25122 Marguerite Parkway. There it's $4.30 a gallon.

Read below for more gas lows around Orange County.

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However, there is reason to hope that the skyrocketing gas prices may reverse course and begin inching downwards after reaching their highest point since the summer of 2008.

“California’s wholesale gasoline prices have reportedly dropped by 50 cents from their high point reached in February, so if that drop sticks, cheaper gasoline should soon be making its way to the pumps,” said Auto Club spokesperson Jeffrey Spring. “However, we know that prices are particularly volatile in the spring and any incident relating to supply could send wholesale prices back up.”

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Cheapest Gas Around OC:

  • Fountain Valley: $4.30 a gallon at Arco, 10975 Edinger Avenue
  • Lake Forest: $4.36 a gallon at USA Petroleum, 23852 l Toro Road
  • Seal Beach: $4.40 a gallon at Seal Beach Mobil, 12240 Seal Beach Blvd.
  • Los Alamitos: $4.44 a gallon at 76, 5100 Katella Ave.
  • Aliso Viejo: $4.36 a gallon at Circle K, 26871 Aliso Creek Road
  • San Clemente: $4.28 a gallon at United Oil-Apro, 795 S. El Camino Real
  • Newport Beach: $4.40 a gallon at World Oil 3401 Newport Boulevard
  • Corona del Mar: $4.38  a gallon at United Oil-Rapid, $4.38, 3400 E Coast Hwy
  • Rancho Santa Margarita $4.30  a gallon at Chevron , 30832 Santa Margarita Parkway

-City News Service contributed to this report.


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