LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 1 cent Saturday to $4.707, its highest amount since June 5.
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The average price has increased 14 of the last 15 days, rising 9.3 cents, according to figures from the AAA and Oil Price Information Service. It is 5.7 cents more than one week ago, 24.1 cents more than one month ago and 9.6 cents more than one year ago. It has dropped $1.786 since rising to a record $6.493 on Oct. 5, 2022.
The Orange County average price rose 1.3 cents to $4.692, its highest amount since May 28. It has increased 23 of the last 24 days, rising 25 cents. The Orange County average price is 6 cents more than one week ago, 26.6 cents more than one month ago and 14.9 cents more than one year ago. It has dropped $1.766 since rising to a record $6.458 on Oct. 5, 2022.
"Oil Price Information Service reports that Los Angeles wholesale gasoline prices shot up late last week after some supply fluctuations, but have dropped a bit in recent days, so the upward price trend at the pump may not last," Doug Shupe, the Automobile Club of Southern California's corporate communications manager, said in a statement.
The national average price dropped 1 cent to $3.178. It is 2.2 cents less than one week ago, 2.3 cents more than one month ago, and 5.2 cents less than one year ago. The national average price has dropped $1.838 since rising to a record $5.016 on June 14, 2022.
"As drivers settle into their fall routines, gas demand is going down, and eventually, pump prices should follow suit. ... There remains an abundance of crude oil supply which is outweighing demand. The seasonal transition to winter-blend gasoline -- which is cheaper to produce -- is also beginning," the AAA said in a statement Thursday.
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