The average price of a gallon of self-serve regular gasoline in Los Angeles County Friday recorded its largest daily decrease since Nov. 3, 2012, dropping 2.9 cents to $4.095.
The average price has dropped 15 consecutive days, decreasing 20.7 cents, including 1.6 cents on Thursday, according to figures from the AAA and Oil Price Information Service.
The decreases follow a seven-day stretch of increases totaling 75.7 cents that pushed the average price to its highest amount since May 4, 2014.
The average price is 10.2 cents less than one week ago but 53.6 cents more than one month ago and 10.6 cents higher than one year ago.
The Orange County average price recorded its largest daily decrease since Dec. 18 Friday, dropping 2.9 cents to $4.07.
The Orange County average price has also dropped for 15 consecutive days, decreasing 20.5 cents, including 1.5 cents on Thursday.
The decreases follow a seven-day stretch of increases totaling 77.8 cents that pushed the average price to its highest amount since May 6, 2014.
The Orange County average price is 10.5 cents less than one week ago but 57.5 cents more than one month ago and 12 cents higher than one year ago.
“Wholesale Los Angeles prices have dropped by more than $1 a gallon since July 9, so we expect the downward trend to accelerate at local gas stations, especially considering that Northern California gas stations are charging 50 to 70 cents less than those in Southern California,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“While the ExxonMobil refinery outage will continue to elevate local prices, Southland drivers should benefit from factors that are driving down prices across the U.S. such as $50-a-barrel oil prices.”
—City News Service