The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the 16th consecutive day since rising to a record, decreasing 5.3 cents to $5.872.
The average price has dropped 62.2 cents over the past 16 days, including 6.9 cents Thursday, its largest decrease since at least 2019, according to figures from the AAA and the Oil Price Information Service.
The average price is 33.5 cents less than one week ago, but 32.7 cents more than one month ago and $1.337 higher than one year ago — mainly due to a 33-day streak of increases totaling $1.248 that ended Oct. 6.
The Orange County average price also dropped for the 16th consecutive day since rising to a record, decreasing 3.2 cents to $5.753.
The Orange County average price has dropped 70.6 cents over the past 16 days, including 6.7 cents Thursday, following a run of 15 increases in 16 days totaling $1.063 that ended Oct. 6. It is 34 cents less than one week ago, but 23.3 cents more than one month ago and $1.249 higher than one year ago.
“Despite the large price declines of the past two weeks, average prices still need to drop by about 60 cents to completely erase the local gas price spike of September and early October,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Los Angeles wholesale gas prices did increase this week, possibly on reports of two refineries having short-term maintenance issues, but at this point wholesale prices remain low enough that the September-October pump price spike can be erased. The cheapest Southern California gas stations are now charging less than $5 a gallon.”
The national average price dropped for the ninth time in 10 days, decreasing 1.6 cents to $3.82. It has dropped 10.3 cents over the past 10 days, including 1.8 cents Thursday. The national average price dropped five consecutive days, was unchanged Monday and resumed dropping Tuesday.
The national average price is 8.3 cents less than one week ago, but 13.9 cents more than one month ago and 45.1 cents higher than one year ago. It is $1.196 less than the record $5.016 set June 14.