The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Friday for the 52nd consecutive day since rising to a record, dropping 2.9 cents to $5.55, its lowest amount since March 8.
The average price has dropped 91.2 cents since rising to a record $6.462 on June 14, including 2 cents Thursday, following an 18-day streak of increases totaling 36.9 cents, according to figures from the AAA and the Oil Price Information Service. It is 12.6 cents less than one week ago and 73.3 cents lower than one month ago, but $1.17 more than one year ago.
The Orange County average price also decreased for the 52nd consecutive day, dropping 3.7 cents to $5.437, its lowest amount since March 7. It has decreased 97.1 cents over the past 52 days, including 2.3 cents Thursday. The run of dropping prices follows a 17-day streak of increases totaling 35.1 cents.
The Orange County average price is 14.4 cents less than one week ago and 75.4 cents lower than one month ago, but $1.091 more than one year ago. It has dropped 97.3 cents since rising to a record $6.41 June 12.
“The last time gas prices dropped so steeply in a one-month period was from October to November 2012 after the state resolved a summer-blend gasoline supply crisis by allowing stations to begin selling winter blend a few weeks early,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Even though average gas prices are now well above $5 a gallon in Southern California, most metro areas now have several stations priced under $5 a gallon.”
The national average price dropped for the 52nd consecutive day following an 18-day streak of increases, decreasing 2.6 cents to $4.113. It has dropped 90.3 cents since rising to a record $5.016 on June 14, after rising 41.5 cents during the 18-day streak of increases.
The national average price is 14.2 cents less than one week ago and 68.7 cents lower than one month ago, but 92.3 cents more than one year ago.