In Los Angeles County, the price of self-serve regular gasoline has once again increased, reaching its highest level since November 18th. Over the past 37 days, the average price has risen by 39.9 cents, including a half-cent increase on Tuesday. This marks the 35th price increase in the past 37 days, with a slight decrease on Wednesday and Friday, followed by another increase over the next four days.
Compared to one week ago, the average price has risen by eight-tenths of a cent. Additionally, it is 30.1 cents higher than the price one month ago and 9.2 cents higher than the price one year ago. However, it is important to note that the price has dropped by $1.123 since reaching a record high of $6.494 on October 5th.
In Orange County, a similar trend is observed, with the average gas price also increasing. Over the past 29 days, the average price has risen by 29.2 cents, including a half-cent increase on Tuesday. The price increases were interrupted by three consecutive decreases totaling 1.2 cents. However, it has risen again in the past three days, including a 1.5 cent increase on Sunday.
Compared to one week ago, the average price in Orange County has risen by 1.1 cents. Furthermore, it is 30.4 cents higher than the price one month ago and 12.8 cents higher than the price one year ago. Similar to Los Angeles County, Orange County has also experienced a significant drop in price, with a decrease of $1.143 since the record high of $6.459 on October 5th.
On a national level, the average gas price has slightly increased by four-tenths of a cent, reaching $3.823. This comes after a 10-day streak of decreases totaling 5.7 cents. Although the current price is 3.1 cents lower than one week ago and 2.7 cents lower than one year ago, it is still 7.7 cents higher than the price one month ago.
The national average price has significantly dropped by $1.193 since reaching a record high of $5.016 on June 14, 2022. Patrick De Haan, the head of petroleum analysis at GasBuddy, explains that the recent decrease in gas prices is due to seasonal pressure on the wholesale price as the summer driving season comes to an end.
However, De Haan also cautions that this drop in prices might be short-lived. The closure of a major refinery and the potential for tropical activity could lead to further disruptions and subsequent price increases.
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