LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the 29th consecutive day, decreasing 1.9 cents to $4.692, its lowest amount since Feb. 1.
The average price has dropped 62 times in 65 days since rising to a record $6.494 on Oct. 5, falling $1.802, including 4.1 cents Thursday, according to figures from the AAA and the Oil Price Information Service.
The average price is 24.2 cents less than one week ago and 83.6 cents lower than one month ago, but two-tenths of a cent more than one year ago.
The Orange County average price dropped for 28th consecutive day, decreasing 1.5 cents to $4.562, its lowest amount since Nov. 10, 2021. It has decreased 62 times in 65 days since rising to a record $6.357 on Oct. 5, dropping $1.795, including 4.2 cents Thursday.
The Orange County average price is 25.6 cents less than one week ago, 85.8 cents lower than one month ago and 10.2 cents below what it was one year ago.
“In coming days as long as current trends hold, we would expect every area of Southern California to drop below its cheapest prices of 2022, which were all reached in January and were generally between $4.60 and $4.70 a gallon,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“There has been an uptick in Los Angeles wholesale gasoline prices in the last couple of days due to some reported refinery maintenance, but the wholesale price today is still 30 cents lower than its previous lowest point of 2022 in late January,” Shupe continued.
Several gas stations in Southern California are now charging less than $4 a gallon, Shupe said.
The national average price dropped for the 30th consecutive day, decreasing 1.4 cents to $3.315. It is 13.3 cents less than one week ago, 49 cents lower than one month ago and 2.3 cents below one year ago.
The national average price has dropped 49 cents over the past 30 days, including 2.6 cents Thursday. It is $1.701 lower than the record $5.016 set June 14.