The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped a half-cent Friday to $4.643, one day after decreasing two-tenths of a cent.
The average price is two-tenths of a cent less than one week ago, 17.1 cents lower than one month ago and 15.1 cents below what it was one year ago, according to figures from AAA and the Oil Price Information Service. It has dropped $1.85 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price rose six-tenths of a cent to $4.567 after three consecutive decreases totaling 1.1 cents. It is nine-tenths of a cent more than one week ago but 17 cents less than one month ago and 11.5 cents lower than one year ago. It has dropped $1.891 since rising to a record $6.458 on Oct. 5, 2022.
“Crude oil prices jumped from about $60 a barrel at the end of May to about $75 a barrel today in response to Middle East conflict, but so far the local pump price increases have been small,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement released Thursday.
“Since oil costs represent about half the cost of producing gasoline, we could see further gas price increases if oil prices stay higher or increase further.”
The national average price rose for the 10th consecutive day, increasing 1.2 cents to $3.217. It has risen 9.6 cents over the past 10 days, including 1.8 cents Thursday.
The national average price is 8.5 cents more than one week ago and 4 cents higher than one month ago, but 23.8 cents less than one year ago. It has dropped $1.799 since rising to a record $5.016 on June 14, 2022.