The price of self-serve regular gasoline in Los Angeles County continues to rise, marking its 29th consecutive day of increase. On Monday, it went up by nine-tenths of a cent, reaching $5.354 per gallon. This comes after a 1.6 cent increase the previous day.
Compared to a week ago, the average price has risen by 11.7 cents. In just one month, it has seen a significant increase of 38.2 cents, and it is currently 1.6 cents higher than the same time last year. However, it has dropped by $1.14 since the record high of $6.494 on October 5th.
Meanwhile, the average price in Orange County rose for the 20th time in 21 days. It increased by two-tenths of a cent to reach $5.302 per gallon, following a 1.6 cent rise the previous day.
Compared to a week ago, the average price in Orange County has increased by 11 cents. Within a month, it has gone up by a substantial 40.9 cents. In comparison to last year, it is currently 6.3 cents higher. However, it has dropped by $1.157 since the record high of $6.459 on October 5th.
Nationally, the average price of gasoline has dropped for the fourth consecutive day. After experiencing 26 increases in 30 days, it decreased by one-tenth of a cent to reach $3.865.
Compared to a week ago, the national average price is 1.4 cents higher. Within a month, it has risen by 27.8 cents. However, it is currently 3.7 cents lower than the same time last year. Since its record high of $5.016 on June 14, 2022, the national average price has dropped by $1.151.
According to Andrew Gross, an AAA national public relations manager, oil prices may increase due to the potential for hurricane developments and forecasts of an expanding heat dome over Texas, Oklahoma, and Kansas. Refineries in these states might need to reduce production to cope with the high temperatures.
Gross mentions that the cost of oil constitutes over 50% of the pump price.
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