L.A. gasoline prices plunged for the eighth straight week, and conditions point to the lower price trend continuing through the end of the year, said the Automobile Club of Southern California.

The average price for regular self-serve unleaded gasoline in the Los Angeles-Long Beach area fell 7.9 cents to $2.504 on Wednesday from $2.583 last Friday. The price was $2.865 per gallon one month ago and $2.296 one year prior. Prices last hit a new record high on Sept. 6.

“This is traditionally a low demand time of the year for gasoline, so that adds downward pressure on retail prices,” Auto Club spokeswoman Carol Thorp said. “Over the next month, prices could fall by as much as 15 to 20 cents per gallon.”

The Orange County area had the lowest average price in Southern California, slipping 6.5 cents to $2.462. The Santa Barbara-Santa Maria-Lompoc area had the highest gas price, falling 9.5 cents to $2.611.

The Weekend Gas Watch normally monitors the average price of gasoline each Friday. This week, due to the Thanksgiving holiday, the report was released on Wednesday.