The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday to its lowest amount since Aug. 3, 2017, decreasing 1.3 cents to $2.974.
The average price has dropped 40 consecutive days, decreasing 58.3 cents, including 1.4 cents on Thursday, according to figures from the AAA and Oil Price Information Service. The streak is the longest since a 53-day run from Nov. 6-Dec. 28, 2019.
The average price is 8.3 cents less than a week ago, 52 cents lower than a month ago and 97.2 cents below what it was one year ago. It has dropped 64.1 cents since the start of the year.
The Orange County average price dropped to its lowest amount since Aug. 6, 2017, decreasing nine-tenths of a cent to $2.949. It has dropped 45 consecutive days, decreasing 57 cents, including 1.5 cents on Thursday. The streak is the longest since a 53-day run from Nov. 5-Dec. 27, 2019.
The Orange County average price is 8.6 cents less than one week ago, 51.1 cents lower than one month ago and 96.8 cents below what it was one year ago. It has dropped 59.6 cents since the start of the year.
“Although the rate of declining prices is slowing, California reformulated gasoline production continues to drop, and inventories continue to increase, so we expect to see retail prices continue to move lower,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.