The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the second consecutive day following a run of 41 increases in 42 days, decreasing two-tenths of a cent to $6.
The back-to-back decreases are the first since three consecutive decreases totaling 1.3 cents from Jan. 20-22, according to figures from the AAA and Oil Price Information Service. The average price dropped a half-cent on Thursday.
The average price is 4 cents more than one week ago, $1.276 higher than one month ago and $1.089 greater than one year ago. It is 49.4 cents less than the record $6.494 set on Oct. 5, 2022.
The Orange County average price rose three-tenths of a cent to $5.929, one day after a run of 62 increases in 63 days totaling $1.697 ended with a decrease of 1.4 cents. It is 3 cents more than one week ago, $1.258 higher than one month ago and $1.053 greater than one year ago.
The Orange County average price is 53 cents less than the record $6.459 set on Oct. 5, 2022.
Prices were rising slightly in line with seasonal norms before the joint U.S./Israel attack on Iran on Feb. 28 sent oil prices higher and drastically accelerated increases at the gas pump.
“After four weeks of double-digit weekly price increases, Southern California gas price increases finally slowed down this past week,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“As of today, the lowest Southern California pump prices are between $5.25 and $5.40 a gallon.”
The national average price rose to its highest amount since Aug. 5, 2022, increasing 1 cent to $4.091. It has risen six consecutive days, increasing 11.5 cents, including 1.7 cents on Thursday.
The national average price is 11.3 cents more than one week ago, 98.2 cents higher than one month ago and 83.1 cents greater than one year ago. It is 92.5 cents less than the record $5.016 set on June 14, 2022.