The average price of a gallon of self-serve regular gasoline in Los Angeles County has reached its highest level since November 30th, standing at $4.994 after experiencing a 10th increase in 11 days.
According to data from AAA and the Oil Price Information Service, the average price has risen by 7.3 cents in the past 11 days, including a slight increase of two-tenths of a cent on Sunday. After eight consecutive days of increases, the price remained unchanged on Friday and then resumed its upward trend on Saturday.
Compared to one week ago, the average price has risen by 3.7 cents, and it is 5.3 cents higher than one month ago. However, it is still 99.4 cents lower than the price a year ago. It has experienced a significant drop of $1.50 since reaching a record high price of $6.494 on October 5th.
In Orange County, the average price dropped by four-tenths of a cent for the second consecutive day, reaching $4.93. This decrease followed a series of seven increases in eight days, totaling 7.8 cents.
Compared to the previous week, the average price in Orange County has increased by 2.9 cents, and it is 6 cents higher than one month ago. However, it remains 94.7 cents lower than the price recorded a year ago. Similar to Los Angeles County, Orange County has also witnessed a significant drop of $1.529 since reaching a record high price of $6.459 on October 5th.
On a national scale, the average price of gasoline decreased by two-tenths of a cent to $3.564, following a day of no change. Compared to one week ago, the price has increased by 2.6 cents, but it is 1.9 cents lower than one month ago and 98.4 cents lower than the price recorded a year ago.
The national average price has dropped by $1.452 since reaching a record high price of $5.016 on June 14, 2022.
“Gas demand has declined by nearly 10% since the holiday as people have returned to their regular driving routines,” said Andrew Gross, an AAA national public relations manager. He further explained, “Typically, this decline in demand would lead to lower gas prices. However, the increasing cost of oil, the main component of gasoline, is counteracting this for the time being.”
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