The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1.2 cents Friday to $4.745, decreasing for the second time in four days following a run of nine increases in 10 days totaling 7 cents.
The average price is one-tenth of a cent more than one week ago and 21.6 cents higher than one year ago but 14.9 cents less than one month ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.749 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped 1.1 cents to $4.647, the third decrease in five days following a nine-day streak of increases totaling 12.2 cents. It is one-tenth of a cent less than one week ago and 7.8 cents lower than one month ago but 19.2 cents more than one year ago.
The Orange County average price has dropped $1.812 from its record high of $6.459 set Oct. 5, 2022.
“Southern California started 2024 with the highest gas prices ever for this time of year,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Los Angeles wholesale gasoline prices rose rapidly last week on news of possible refinery problems, but dropped again this week as more supply became available on the wholesale market.”
The national average price dropped for the 13th time in 14 days, decreasing two-tenths of a cent to $3.088. The run totaling 4.1 cents includes five decreases of one-tenth of a cent and follows a four-day streak of increases totaling 6.1 cents.
The national average price is 3.2 cents less than one week ago, 14.1 cents lower than one month ago and 19.7 cents below one year ago. It has decreased $1.928 since rising to a record $5.016 on June 14, 2022.