The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest decrease since Dec. 21 Friday, dropping 1.4 cents to $4.898, its ninth consecutive decrease following a 35-day streak of increases totaling 39.7 cents.
The average price has dropped 6.3 cents over the past nine days, including 1.1 cents Thursday, according to figures from the AAA and Oil Price Information Service. It is 5.5 cents less than one week ago and 99.1 cents lower than one year ago but 12.1 cents more than one month ago.
The average price has dropped $1.596 since rising to a record $6.494 on Oct. 5, 2022.
“Oil Price Information Service analyzed Energy Information Administration data and reports that Western states received their highest level of gasoline imports since October,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“OPIS also reports that US gas station sales declined year-over-year in February for the first time since January 2021, and economic concerns have pushed down oil prices to their lowest level since November 2021.”
The national average price dropped seven-tenths of a cent to $3.457, one day after decreasing two-tenths of a cent. It is 1.7 cents less than one week ago and 83.2 cents lower than one year ago but 3.6 cents more than one month ago.
The national average price has dropped $1.559 since rising to a record $5.016 on June 14.