This is not a unique phenomenon, and it is not completely explained. Most skeptics will blame this on random cycling of the lights and selective memory. That may be true in some (or even many) cases, but there are some examples where it seems that this phenomenon is more than coincidence.
The phenomenon is called SLI or Street Light Interference, and, for some people who experience it, Street Lights are not the only electrical items affected.
If you happen to notice that one or two streetlights just seem to go out or come on when you pass them, it's likely coincidence. If you notice that, on certain nights, nearly every street light you approach goes out, or if you notice that they go out as you approach them and come back on when you move away, it is very unlikely that the phenomenon is purely due to chance. Take a look at the links below for more information and a video.