Experience the shocking surge in gas prices as the average price of a gallon of self-serve regular gasoline in Los Angeles skyrockets for the 40th time in just 45 days. Witness the astounding 2.6 cent increase, reaching a breathtaking high of $5.43, a figure that hasn’t been seen since Nov. 16.
According to data provided by the AAA and Oil Price Information Service, the average price has experienced a staggering 45.8 cent increase over the past 45 days, with an additional seven-tenths of a cent rise on Tuesday alone. Brace yourself for the rollercoaster ride of fluctuating prices, as it rose for 30 consecutive days, experienced slight drops, and then surged again, ultimately leading to four out of the past five days seeing an increase.
Prepare for the impact on your wallet, with the average price now standing 6 cents higher compared to just one week ago. Over the course of one month, prices have escalated by a daunting 27.7 cents, and year-on-year, there has been a 13.9 cent surge. However, there’s a sliver of relief, as prices have plummeted by a staggering $1.064 since reaching a record high of $6.494 on Oct. 5.
Meanwhile, in Orange County, the average price of gas has soared for the 38th time in 44 days. Brace yourself for the alarming 2.4 cent increase, bringing the average price to $5.386, a figure that hasn’t been seen since Nov. 15. Over the past 44 days, prices have surged a shocking 48.5 cents, including a further six-tenths of a cent rise on Tuesday.
Comparing to just one week ago, Orange County’s average price is now 6.9 cents higher. Over the course of one month, prices have escalated by a staggering 28.8 cents. Looking back one year, there has been a 14.8 cent rise. However, there’s a glimmer of good news, as prices have dropped a jaw-dropping $1.073 since reaching a record high of $6.459 on Oct. 5.
As for the national average, prepare for a breath of relief amidst the tumultuous pricing landscape. The national average price has dropped for the sixth time in seven days, witnessing a modest decrease of eight-tenths of a cent, resulting in a current average price of $3.803. Over the past week, prices have dipped by 2.4 cents, including a decrease of two-tenths of a cent on Tuesday.
In a tantalizing twist, the national average price is now 2.6 cents lower compared to one month ago. However, looking back one year, prices have experienced a slight increase of 2.4 cents. Brace yourself for the stunning news that prices have plummeted by an astounding $1.213 since reaching a record high of $5.016 on June 14, 2022.
Let Patrick De Haan, head of petroleum analysis at GasBuddy, the renowned provider of real-time gas price information, guide you through this thrilling journey. According to De Haan, “The national average fell to its lowest level since July ahead of Labor Day, even as oil prices rose last week to the highest level since last November.” De Haan adds, “In addition, Hurricane Idalia steered well clear of significant energy infrastructure, leading to zero impact on gas prices. With the switch back to winter gasoline less than two weeks away, we could eventually see more downward pressure on gas prices.”
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