The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the 10th time in 11 days, decreasing four-tenths of a cent to $5.65.
The average price has dropped 6.4 cents over the past 11 days, including three-tenths of a cent Thursday, according to figures from the AAA and Oil Price Information Service. It dropped eight consecutive days, rose two-tenths of a cent Wednesday and resumed dropping Thursday.
The average price is 2.1 cents less than one week ago but 24.5 cents more than one month ago and $1.184 higher than one year ago. It has increased 95.6 cents since the start of the joint U.S./Israel attack on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The Orange County average price also dropped for the 10th time in 11 days, decreasing six-tenths of a cent to $5.589. It has dropped 7.9 cents over the past 11 days, including two-tenths of a cent Thursday.
The Orange County average price dropped six consecutive days, rose two-tenths of a cent Monday and resumed dropping Tuesday. It is 2.5 cents less than one week ago but 29 cents more than one month ago and $1.159 higher than one year ago.
The Orange County average price has increased 95.3 cents since the start of the attack on Iran.
“Oil prices rose during the last week due to Middle East supply concerns, but have dropped today on news of higher U.S. inventories and lower demand forecasts for the coming weeks and months,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“There are now a few dozen gas stations throughout Southern California with prices lower than $5 a gallon.”
The national average price rose for the fourth consecutive day, increasing six-tenths of a cent to $4.077. It has risen 6.8 cents over the past four days, including 3.5 cents Thursday. The streak of rising prices follows a 10-day streak of decreases totaling 9.7 cents.
The national average price is 3.5 cents more than one week ago, 21.9 cents higher than one month ago and 91.7 cents greater than it was one year ago. It has increased $1.095 since the attack on Iran.
The national average price is at its highest amount this late in the calendar year after never topping $4 on Aug. 14 in any previous year, according to Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.