The average price of a gallon of self-serve regular gasoline in Los Angeles County rose for the fifth consecutive day Tuesday, increasing six-tenths of a cent to $4.922.
The average price is 2.5 cents more than one week ago, but 1.2 cents less than one month ago and $1.36 lower than one year ago, according to figures from the AAA and the Oil Price Information Service.
It has dropped $1.572 since rising to a record $6.494 on Oct. 5.
The Orange County average price rose 1.1 cents to $4.859. It is 3.8 cents more than one week ago, but 2.9 cents less than one month ago and $1.338 lower than one year ago.
The Orange County average price has dropped $1.60 since rising to a record $6.459 on Oct. 5.
The national average price dropped six-tenths of a cent to $3.529. It is 3.5 cents less than one week ago, 2.4 cents less than one month ago and $1.278 less than one year ago. The national average price has dropped $1.487 since rising to a record $5.016 on June 14, 2022.
The Los Angeles, Orange County and national averages are all at their second-highest amounts on Independence Day, behind only last year, partly due to the run-up in prices connected to Russia’s invasion of Ukraine.
“We could see gasoline prices under some additional pressure soon, especially as we head into the closing innings of summer next month,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
” … At the halfway point of the year, the national average is right at the level we anticipated for a full-year average,” De Haan continued. “While that’s good news, I believe we may see prices close out the second half of the year below our expectations. This would be welcome news for motorists as the national average could fall below $3 per gallon this fall.”