LOS ANGELES – The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the fifth consecutive day following a run of 10 increases in 11 days totaling 7.3 cents that pushed it to its highest amount since Nov. 30.
The average price dropped seven-tenths of a cent Friday to $4.972, according to figures from the AAA and the Oil Price Information Service. It has dropped 2.2 cents over the past five days, including two-tenths of a cent Thursday.
The average price is 1.5 cents less than one week ago and 90.1 cents lower than one year ago but 4.6 cents more than one month ago. It has dropped $1.522 since rising to a record $6.494 on Oct. 5.
The Orange County average price dropped for the sixth time in seven days following a run of seven increases in eight days totaling 7.8 cents, decreasing seven-tenths of a cent to $4.893. It has dropped 4.5 cents over the past seven days, including nine-tenths of a cent Thursday.
Despite the recent decreases, the Orange County average price is 4.1 cents more than one month ago but 87.9 cents less than one year ago. It has dropped $1.566 since rising to a record $6.459 on Oct. 5.
“Gas prices in Southern California have dropped slightly since last week,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“Demand for fuel remains strong as many are taking summer road trips. Crude oil prices have been climbing since the beginning of June, which could mean we could see an increase in fuel prices before the end of summer.”
The national average price rose for the third consecutive day, increasing seven-tenths of a cent to $3.587. It has increased 2.4 cents over the past three days, including 1.1 cents Thursday.
The national average price is 2.1 cents more than one week ago and six-tenths of a cent higher than one month ago but 85.3 cents less than one year ago. It has dropped $1.429 since rising to a record $5.016 on June 14, 2022.
