The average price of a gallon of self-serve regular gasoline in Los Angeles County today recorded its largest daily decrease since Oct. 27, 2012, dropping 4.1 cents to $3.875.
The average price has dropped 22 consecutive days, decreasing 42.7 cents, including 3.7 cents on Thursday, according to figures from the AAA and Oil Price Information Service.
The decreases follow a seven-day stretch of increases totaling 75.7 cents that pushed the average price to its highest amount since May 4, 2014.
The average price is 22 cents less than one week ago and 5.3 cents lower than one year ago but 32.6 cents more than one month ago.
The Orange County average price also recorded its largest daily decrease since Oct. 27, 2012, dropping 4.3 cents to $3.843. It has also dropped 22 consecutive days, decreasing 43.2 cents, including 3.3 cents on Thursday.
The decreases follow a seven-day stretch of increases totaling 77.8 cents that pushed the average price to its highest amount since May 6, 2014.
The Orange County average price is 22.7 cents less than one week ago and 5.7 cents lower than one year ago but 35 cents more than one month ago.
“Local wholesale prices have plunged by nearly $1.50 since July 9, but so far average retail prices have only dropped by about 40 cents, leaving a lot of room for them to drop further and faster,” said Jeffrey Spring, the Automobile Club of Southern California’s communications manager.
