Los Angeles County witnessed a remarkable 59-day streak of price increases, resulting in a total increase of $1.097 for a gallon of self-serve regular gasoline. This surge brought the average price to its highest level since Oct. 17. However, the upward trend came to an end on Thursday with a slight decrease of 0.9 cents, leaving the price at $6.06.
The average price experienced a series of fluctuations during this period. It rose for 30 consecutive days, dropped for two of the next three days, increased for five of the following six days, and remained unchanged on September 1. Furthermore, it rose 18 times in 19 days leading up to Wednesday. These figures are based on data provided by the AAA and Oil Price Information Service.
Compared to the previous week, the average price has surged by 44.5 cents. It is also 70.6 cents higher than it was a month ago and 51.5 cents higher than it was a year ago. However, since reaching a record high of $6.494 on October 5, it has dropped by 43.4 cents.
In Orange County, there was a similar trend with a run of 52 price increases over 58 days, totaling $1.144. This surge pushed the average price for a gallon of self-serve regular gasoline to its highest amount since Oct. 14. However, this streak ended with a decrease of 3.3 cents, bringing the price down to $6.012.
Compared to the previous week, the average price in Orange County has increased by 41.7 cents. It is also 71 cents higher than it was a month ago and 49.2 cents higher than it was a year ago. Similar to Los Angeles County, it reached a record high of $6.459 on October 5 but has since dropped by 44.7 cents.
Nationally, the average price of gasoline experienced a different pattern. After an 11-day streak of increases totaling 7.8 cents, the price dropped for the third consecutive day, decreasing by 0.8 cents to $3.867.
Compared to the previous week, the national average price has risen by 0.9 cents. It is also 0.2 cents higher than it was a month ago and 18.6 cents higher than it was a year ago. However, it has dropped significantly by $1.149 since reaching a record high of $5.016 on June 14, 2022.
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