The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday to its lowest amount since Jan. 15, decreasing four-tenths of a cent to $4.475.
The average price has dropped four consecutive days, decreasing 1.7 cents, including three-tenths of a cent Thursday, after back-to-back increases totaling a half-cent, according to figures from AAA and the Oil Price Information Service.
The average price is 2 cents less than one week ago, 14.8 cents lower than one month ago and 13.6 cents below what it was one year ago. It has dropped $2.018 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price resumed dropping, decreasing four-tenths of a cent to $4.422, its lowest amount since Jan. 15, one day after a run of six decreases in seven days totaling 2.6 cents ended when it was unchanged.
The Orange County average price is 1.4 cents less than one week ago, 13.5 cents lower than one month ago and 12.1 cents below what it was one year ago. It has dropped $2.036 since rising to a record $6.458 on Oct. 5, 2022.
“Oil Price Information Service reported that Energy Information Administration statistics released yesterday indicate that West Coast gasoline inventories are higher and the refinery utilization rate is over 90%, indicating continued strong supply,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement released Thursday.
The national average price dropped two-tenths of a cent to $3.16, after three consecutive increases totaling 2.2 cents, including seven-tenths of a cent Thursday.
The national average price is a half-cent more than one week ago but 6.6 cents less than one month ago and 36.1 cents lower than one year ago. It has dropped $1.856 since rising to a record $5.016 on June 14, 2022.