The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed dropping Friday, decreasing a half-cent to $4.718, one day after remaining unchanged.
The average price is four-tenths of a cent less than one week ago but 7.9 cents more than one month ago and 17.5 cents higher than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price dropped four-tenths of a cent Tuesday and three-tenths of a cent Wednesday after a streak of three consecutive increases totaling eight-tenths of a cent. It has decreased $1.775 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price dropped for the fourth consecutive day, decreasing four-tenths of a cent to $4.688. It has dropped 1.3 cents over the past four days, including four-tenths of a cent Thursday.
The Orange County average price is four-tenths of a cent less than one week ago but 8 cents more than one month ago and 21 cents higher than one year ago. It has dropped $1.77 since rising to a record $6.458 on Oct. 5, 2022.
“Oil prices have dropped domestically and worldwide in recent days, but California refineries this week reported lower production and inventories, according to Oil Price Information Service,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“Lower production is to be expected as the refineries switch over to producing winter blend gasoline, which is required to be sold in Southern California at the end of the month.”
The national average price dropped seven-tenths of a cent to $3.152, one day after a streak of three consecutive increases totaling 2.8 cents ended when it dropped one-tenth of a cent. It is four-tenths of a cent more than one week ago but 3.8 cents less than both one month ago and one year ago.
The national average price has dropped $1.864 since rising to a record $5.016 on June 14, 2022.