The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Friday, Aug. 26, for the 71st time in 73 days since rising to a record, dropping 1.3 cents to $5.295, its lowest amount since March 5.
The average price has dropped $1.167 since rising to a record $6.462 on June 14, including 1 cent Thursday, according to figures from the AAA and the Oil Price Information Service. It decreased for 67 consecutive days, was unchanged Sunday and Monday and resumed dropping Tuesday.
The average price is 5 cents less than one week ago and 45.8 cents lower than one month ago, but 90.1 cents more than one year ago.
“Average gas prices are still 60 cents a gallon higher than their all- time records prior to this year, so it’s unlikely they will drop below previous historic levels unless we see pump price drops start accelerating again,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications and programs manager.
The national average price dropped for the 73rd consecutive day since rising to a record, decreasing nine-tenths of a cent to $3.869. It has dropped $1.147 since rising to a record $5.016 on June 14, including a half-cent Thursday.
The national average price is 4.9 cents less than one week ago and 45.8 cents lower than one month ago, but 72.3 cents more than one year ago.