At highest in three months
By OW Staff
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose by mid-week, for the 21st consecutive day — approaching $5 — its highest amount since Dec. 5.
The average price has increased 24.8 cents over the past 19 days, including 1 cent Sunday, according to figures from the AAA and Oil Price Information Service. It is 10.3 cents more than one week ago, 29.8 cents higher than one month ago and 2.6 cents greater than one year ago.
The average price has dropped $1.682 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price rose for the 17th time in 19 days, increasing seven-tenths of a cent to $4.782, its highest amount since Dec. 2. It has risen 28.7 cents over the past 19 days, including 1.2 cents on Feb. 19.
The Orange County average price is 11.8 cents more than one week ago, 34.3 cents higher than one month ago and 1.9 cents greater than one year ago. It has dropped $1.677 since rising to a record $6.459 on Oct. 5.
The national average price dropped for the 21st time in 23 days, decreasing three-tenths to $3.41. It has dropped 10 cents over the past 25 days, including four-tenths of a cent on Feb. 19. It is six-tenths of a cent less than one week ago and 12.1 cents lower than one year ago but 1.8 cents more than one month ago.
The national average price has dropped $1.606 since rising to a record $5.016 on June 14, 2022.
“Oil prices have softened over the last week, helping to limit any upside at the pump, with strong economic data leading to concern that the Fed will continue to use interest rates to slow the economy,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“This could weaken demand as we head into the peak summer driving season.”