The average prices of a gallon of self-serve regular gasoline in Los Angeles and Orange counties were at record highs for Labor Day Monday for the second consecutive year thanks to increases earlier in the year related to Russia’s invasion of Ukraine.
The Los Angeles County average price of $5.287 broke the previous Labor Day record of $4.406 set last year, while the Orange County average price of $5.23 erased the previous record of $4.367, also set in 2021, according to figures from the AAA and Oil Price Information Service.
The average prices rose steadily to record highs in June after Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager.
The recent run of decreases provided a measure of relief, but still left prices higher than at any time since before early March. The Los Angeles County average price is 46.5 cents higher than on Feb. 24 and the Orange County average price is 42.8 cents higher.
The Los Angeles County average price rose Monday for the third consecutive day after decreasing 78 of the previous 80 days to its lowest amount since March 4, increasing a half-cent. It is eight-tenths of a cent more than one week ago and 88.3 cents higher than one year ago but 26.3 cents less than one month ago.
The Orange County average price rose for the fourth consecutive day after dropping nine of the previous 10 days to its lowest amount since March 4, increasing nine-tenths of a cent. It is 4.2 cents more than one week ago and 85.9 cents higher than one year ago but 20.7 cents less than one month ago.
The national average price dropped for the 83rd consecutive day since rising to a record, falling three-tenths of a cent to $3.786. It has dropped $1.23 since rising to a record $5.016 on June 14.
The national average price is 6.4 cents less than one week ago and 32.7 cents lower than one month ago, but 60.1 cents more than one year ago.