The average price dropped 2 cents to $5.999 after back-to-back decreases of 1.9 cents, according to figures from the AAA and Oil Price Information Service. It has dropped 7.1 cents over the past seven days following a 32-day streak of increases totaling $1.283. It is 7.1 cents less than one week ago but $1.071 higher than one month ago and $2.045 more than one year ago.
The Orange County average price recorded its largest decrease since at least September 2019, dropping 2.9 cents to $5.947. It has dropped 8 cents over the past seven days, including 1.8 cents on both Thursday and Friday, following a 35-day streak of increases totaling $1.277.
Despite the recent decreases, the Orange County average price is $1.043 higher than one month ago and $2.013 more than one year ago.
"With the (Strategic Petroleum Reserve) release keeping oil (prices) down, we'll see most/all areas decline over the weekend and into next week,'' according to Patrick De Haan, head of petroleum analysis for GasBuddy, which provides real-time gas price information from more than 150,000 stations.