The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent Friday to $4.804, the fifth consecutive decrease following a run of 11 increases in 12 days totaling 7.7 cents.
The average price has dropped 2.1 cents over the past five days, including three-tenths of a cent Thursday, according to figures from the AAA and the Oil Price Information Service. It is 2.6 cents less than one week ago, 1.1 cents lower than one month ago and 30.7 cents below what it was one year ago.
The average price has dropped $1.689 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price extended its streak of dropping prices to eight days with a decrease of two-tenths of a cent to $4.723. It has dropped 4.5 cents over the past eight days, including six-tenths of a cent Wednesday.
The Orange County average price is 4 cents less than one week ago, 3.8 cents lower than one month ago and 29.7 cents below what it was one year ago. It has dropped $1.735 since rising to a record $6.458 on Oct. 5, 2022.
“Southern Californians will be paying the lowest pump prices since 2021 to fill up for their Memorial Day getaways, which they will be taking in record numbers,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.
“Gas prices are backing off from a price spike earlier this month caused by a Northern California refinery fire and some unplanned refinery outages. According to Oil Price Information Service, those supply issues have been resolved and refineries have increased their gasoline production.”
The national average price rose one-tenth of a cent to $3.196, one day after increasing 1.3 cents. It is four-tenths of a cent more than one week ago and 2.5 cents higher than one month ago but 41.8 cents less than one year ago.
The national average price has dropped $1.82 since rising to a record $5.016 on June 14, 2022.