Southern California gas prices continue to climb
LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Tuesday for the 22nd consecutive day and 25th time in 26 days, increasing 1.5 cents to $5.342, its highest amount since Nov. 1.
The average price has risen 41.2 cents over the past 26 days, including six-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It rose three consecutive days, dropped one-tenth of a cent March 18 and resumed increasing March 19.
The average price is 17.9 cents more than one week ago, 40.4 cents higher than one month ago and 41.2 cents greater than one year ago. It has dropped $1.093 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price also rose for the 22nd consecutive day and 25th time in 26 days, increasing 1.4 cents to $5.313, its highest amount since Oct. 25. It has risen 43.4 cents over the past 26 days, including two-tenths of a cent Monday.
The Orange County average price is 18.8 cents more than one week ago, 42.3 cents more than one month ago and 40 cents more than one year ago. It has dropped $1.416 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose for the seventh consecutive day, increasing 1 cent to $3.608. It has risen 7.3 cents over the past seven days, including a half-cent Monday.
The national average price is 21.1 cents more than one month ago and seven-tenths of a cent higher than one year ago. It has dropped $1.408 since rising to a record $5.016 on June 14, 2022.
"After a brief break, gas prices have leapt back up, driven by extensive refinery maintenance on the West Coast, where prices have increased notably," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
"Only a handful of states have seen prices decline over the last week. With oil prices rising to nearly $87 per barrel last week, their highest since October, we are not only facing the seasonal factors that push prices up - - refinery maintenance, the switch to summer gasoline, and rising demand -- but also escalating crude oil prices as OPEC's production cuts continue to cause declining global oil inventories, with escalations between Iran and Israel adding to concerns of further destabilization.
"The West Coast is likely to see gas prices continue to jump, and in a week or so, will be joined by the mid-Atlantic and Northeast states as they wrap up the transition to summer gasoline."