Southland average gasoline prices decline for 3rd day in a row

The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Friday for the third consecutive day, decreasing eight-tenths of a cent to $4.938.

The average price has dropped 1.2 cents over the past three days, including three-tenths of a cent Thursday, according to figures from the AAA and Oil Price Information Service. It is six-tenths of a cent less than one week ago and 84.8 cents below what it was one year ago, but 7.3 cents more than it was a month ago.

The average gasoline price has dropped $1.556 since rising to a record $6.494 on Oct. 5.

The Orange County average price recorded its largest decrease since March 17, dropping 1.4 cents to $4.90. It has also dropped for three consecutive days, decreasing 2.9 cents, including nine-tenths of a cent Thursday.

The Orange County average price is 2.9 cents less than one week ago, 8.9 cents more than one month ago and 82.6 cents below what it was one year ago. It has dropped $1.559 since rising to a record $6.459 on Oct. 5.

“Last week’s California Energy Commission report indicated a robust increase in refinery production and state gasoline supply, and oil prices have also dropped in the last week to put downward pressure on pump prices,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said in a statement.

“Southern California drivers are now paying slightly less than Phoenix-area drivers for gasoline, which is unusual. That’s because gasoline is now averaging above $5 a gallon in some Arizona cities because of an ongoing supply issue in that state.”

A 23-day streak of increases to the national average price totaling 25.1 cents ended with an decrease of four-tenths of a cent to $3.682. It is 2 cents more than one week ago and 24.6 cents higher than one month ago, but 43.8 cents less the one year ago.

The national average has dropped $1.334 since rising to a record $5.016 on June 14.

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