The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest decrease since March 26, 2020, Friday, dropping 2.6 cents to $5.895, its 11th consecutive decrease.
The average price has dropped 17.5 cents over the past 11 days, including 1.9 cents Thursday, according to figures from the AAA and Oil Price Information Service. It is 12.4 cents less than one week ago but 37.7 cents higher than one month ago and $1.923 more than one year ago.
The average price rose $1.283 during a 32-day streak of increases that ended March 27.
The Orange County average price dropped for the 10th consecutive day, decreasing 2.5 cents to $5.849. It has dropped 18 cents over the past 10 days, including 1.4 cents Thursday.
The Orange County average price is 12.7 cents less than one week ago but 33.5 cents more than one month ago and $1.897 higher than one year ago.
The Orange County average price rose $1.277 during a 35-day streak of increases that ended March 27.
“Despite reports of flaring and delayed restarts at two local refineries, the Energy Information Administration is reporting that refinery utilization rates on the West Coast are at more than 90%, which is a seven- month high point,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
“This has allowed gasoline stockpiles to surge by a million barrels over the previous week, although Oil Price Information Service reports the stockpile level is still below normal levels for this time of year.”