In Los Angeles County, the price of a gallon of self-serve regular gasoline has been steadily rising for 24 consecutive days. Yesterday, it increased by half a cent, reaching $5.259. Over the past 24 days, the average price has gone up by 28.7 cents, including a 2.6 cent increase on Tuesday. This upward trend follows a series of six decreases in seven days, totaling a decrease of 2.2 cents.
Compared to the previous week, the average price is now 9.4 cents higher, and compared to one month ago, it is 26.5 cents higher. However, when compared to one year ago, it is still 12.1 cents lower. Since reaching a record high of $6.494 on October 5, it has dropped by $1.235.
In Orange County, the average price of gasoline has experienced an interesting shift. After 15 consecutive days of increases, it dropped by one-tenth of a cent, now standing at $5.209.
Similar to Los Angeles County, the price in Orange County has also increased compared to the previous week (by 10.2 cents) and the previous month (by 27.9 cents). However, it is still 5.3 cents lower than the price one year ago. Like Los Angeles County, it has also dropped significantly since October 5th, falling by $1.25.
On a national level, the average price of gasoline has risen for the 25th time in the past 29 days. It has increased by 1.1 cents, reaching $3.873. Over the past 29 days, the price has gone up by a total of 31 cents, including a 1.1 cent increase on Tuesday. Compared to the previous week, the national average price is now 4.8 cents higher, and compared to one month ago, it is 30.9 cents higher. However, when compared to the price one year ago, it is 7.6 cents lower.
Since reaching a record high of $5.016 on June 14, 2022, the national average price has dropped by $1.143. Patrick De Haan, the head of petroleum analysis at GasBuddy, has commented on this trend, stating that the national average price is approaching its highest level since last October. He suggests that it may climb slightly higher as Labor Day approaches, as recent OPEC+ production cuts continue to put pressure on oil prices.
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