The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped under $6 for the first time since Sept. 11 Friday, decreasing 2.3 cents to $5.996.
The average price has dropped 28 of the past 29 days, decreasing 44.3 cents, including 2.6 cents Thursday, according to figures from the AAA and Oil Price Information Service. It dropped 10 consecutive days, rose four-tenths of a cent Oct. 12 and resumed decreasing the following day.
The run of decreases follows a 44-day streak of increases totaling 79.7 cents that brought the average price within 5.4 cents of its record high, $6.493, set Oct. 5, 2022.
The average price is 13.8 cents less than one week ago and 43.2 cents lower than one month ago, but $1.365 more than one year ago. It has increased $1.302 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The Orange County average price dropped for the 29th consecutive day, falling 2.2 cents to $5.878, its lowest amount since Sept. 6. It has dropped 52.7 cents over the past 29 days, including 3.1 cents Thursday. The streak of decreases follows a run of 42 increases in 44 days totaling 83.7 cents that pushed it within 5.3 cents of its record high, $6.458, set Oct. 5, 2022.
The Orange County average price is 14.6 cents less than one week ago and 52.2 cents lower than one month ago, but $1.296 more than one year ago. It has increased $1.236 since the start of the war on Iran.
The streak of dropping prices began four days after Gov. Gavin Newsom’s announcement Sept. 28 that cheaper winter-blend gasoline would be allowed to be sold immediately instead of the customary Nov. 1 date.
“Gas prices in California have dropped by more than 40 cents in the past month,” Candace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday.
“Worldwide oil prices have increased in the last two weeks due to continued supply volatility, so it is uncertain how long pump prices will continue to decline if that trend holds.”
The national average price dropped for the sixth consecutive day, decreasing 2.1 cents to $4.204. It has fallen 9.1 cents over the past six days, including 2.2 cents Thursday.
The national average price is 8.8 cents less than one week ago and 23 cents lower than one month ago, but $1.167 more than one year ago. It has increased $1.222 since the attack on Iran.