The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday for the 54th time in 55 days, decreasing 1.1 cents to $5.03, its lowest amount since July 27.
The average price has dropped $1.285 over the past 55 days, including 2.3 cents Wednesday, according to figures from the AAA and Oil Price Information Service. It is 11.3 cents less than one week ago, 54.5 cents lower than one month ago and 18.3 cents cheaper than one year ago.
The average price has dropped $1.464 since rising to a record $6.494 on Oct. 5, 2022.
The average price dropped 43 consecutive days, rose one-tenth of a cent Nov. 12, then resumed decreasing the next day.
The Orange County average price dropped for the 23rd time in 24 days, decreasing 1.5 cents to $4.865, its lowest amount since July 6. It has dropped 35 cents over the past 24 days, including 3.3 cents Wednesday.
The Orange County average price is 13.2 cents less than one week ago, 52.3 cents lower than one month ago and 23.5 cents cheaper than one year ago. It has dropped $1.594 since rising to a record $6.459 on Oct. 5, 2022.
“More Southern California areas saw gas price averages drop below $5 a gallon this week and if current trends hold, average gas prices in Los Angeles, San Diego and Santa Barbara should be below $5 a gallon in the next week as well,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
The national average price dropped for the 56th consecutive day, falling 1.3 cents to $3.268. It has dropped 56.7 cents over the past 56 days, including 1.4 cents Wednesday.
The national average price is 7.4 cents less than one week ago, 28.1 cents lower than one month ago and 34.1 cents cheaper than one year ago. It has dropped $1.748 since rising to a record $5.016 on June 14, 2022.