The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday to its lowest amount since Feb. 6, decreasing 1.3 cents to $4.599.
The average price has dropped four consecutive days, decreasing 5.1 cents, including 1.1 cents Thursday, according to figures from AAA and the Oil Price Information Service. It is 4.4 cents less than one week ago, 20.7 cents lower than one month ago and 19.5 cents below what it was one year ago.
The average price has dropped $1.894 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price dropped to its lowest amount since Feb. 4, decreasing 1.9 cents to $4.527. It has dropped has dropped four consecutive days, decreasing 4.6 cents, including 1.1 cents Thursday.
The Orange County average price is 4 cents less than one week ago, 18.5 cents lower than one month ago and 17 cents below what it was one year ago. It has dropped $1.931 since rising to a record $6.458 on Oct. 5, 2022.
“While oil prices are lower after the Middle East ceasefire, California faces some tax and fee increases July 1 that could push up pump prices starting Tuesday,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manage, said in a statement.
“The state’s excise tax increases by 1.6 cents a gallon on Tuesday. Also on that date, stricter air quality regulations are taking effect that will require gasoline producers to either drastically reduce carbon emissions from the fuel they produce, or purchase `emission credits’ from the state. It’s unknown how much that will add to the cost of gasoline.”
The national average price dropped for the second consecutive day following a run of 14 increases in 15 days totaling 10.5 cents, decreasing 1.3 cents to $3.207. It is 1 cent more than one week ago and 3.3 cents higher than one month ago but 29.6 cents less than one year ago.
The national average price has dropped $1.809 since rising to a record $5.016 on June 14, 2022.