The price of self-serve regular gasoline in Los Angeles County continues to rise for the 26th consecutive day, reaching $5.29 per gallon. This is the highest price since November 21.
Over the past 26 days, the average price has increased by 31.8 cents, including a 1 cent increase on Thursday. This upward streak follows a series of six decreases out of seven days, totaling a decrease of 2.2 cents.
Compared to one week ago, the average price has gone up by 9.6 cents, and it is 30.3 cents higher than one month ago. However, it is still 6 cents lower than the price one year ago. It has dropped significantly from its record high of $6.494 on October 5, currently standing at $5.29.
In Orange County, the average price has risen for the 17th time in 18 days, reaching $5.239 per gallon. This is the highest amount since November 19. Over the past 18 days, the average price has increased by 21.5 cents, including a 0.6 cent increase on Thursday.
Compared to one week ago, the average price in Orange County has increased by 9.4 cents. It is also 31.6 cents higher than one month ago and 0.9 cents higher than the price one year ago. It has dropped from its record high of $6.459 on October 5 to the current price of $5.239.
“According to Oil Price Information Service, the surge in wholesale gasoline prices in Los Angeles and San Francisco is due to limited supply and high demand from refiners seeking additional supply. This has contributed to the continuous increase in pump prices,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.
This upward pressure on prices at the pump is a result of these factors. The national average price, which experienced 26 increases in 30 days, ended Friday with a decrease of 0.2 cents, reaching $3.873 per gallon. It is 3.2 cents higher than one week ago and 31 cents higher than one month ago. However, it is still 5.8 cents lower than the price one year ago.
Since reaching a record high of $5.016 on June 14, 2022, the national average price has dropped significantly, currently standing at $3.873 per gallon.
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