The average prices of a gallon of self-serve regular gasoline in Los Angeles and Orange counties dropped Friday to their lowest Independence Day amounts since 2021.
The Los Angeles County average price decreased sixth-tenths of a cent to $4.559, its lowest amount since Feb. 4. It has dropped 10 of the past 11 days, decreasing 9.1 cents, including 1 cent Thursday, according to figures from AAA and the Oil Price Information Service. It dropped six consecutive days, was unchanged Monday and resumed decreasing Tuesday.
The average price is 4 cents less than one week ago, 16.8 cents lower than one month ago and 22.2 cents below what it was one year ago. It has dropped $1.934 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price resumed dropping, decreasing two-tenths of a cent to $4.502, one day after a run of eight decreases in nine days totaling 7 cents ended with an increase of one-tenth of a cent.
The Orange County average price is at its lowest amount since Feb. 3 and 2.5 cents less than one week ago, 13.8 cents lower than one month ago and 19.6 cents below what it was one year ago. It has dropped $1.956 since rising to a record $6.458 on Oct. 5, 2022.
“Oil prices continue to trade at about $65 a barrel after the Middle East ceasefire, putting downward pressure on gas prices locally and nationwide,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“While California’s fuel excise tax increased by 1.6 cents a gallon on Tuesday and a new state fuel air quality requirement also took effect Tuesday, pump prices have continued to drop.”
The national average price dropped for the ninth consecutive day following a run of 14 increases in 15 days totaling 10.5 cents, decreasing 1 cent to $3.152. It has dropped 7.4 cents over the past nine days, including nine-tenths of a cent Thursday.
The national average price is 5.5 cents less than one week ago and 36.2 cents lower than one year ago but eight-tenths of a cent more than one month ago. It has dropped $1.864 since rising to a record $5.016 on June 14, 2022.