The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped 1.1 cents Saturday to $5.41, after rising 3.8 cents over the previous two days.
The average price is 1.3 cents more than one week ago, 41.8 cents less than one month ago and 87.9 cents more than one year ago, according to figures from the AAA and Oil Price Information Service. It has increased 71.6 cents since the start of the joint U.S./Israel attack on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The Orange County average price dropped eight-tenths of a cent to $5.308, after rising 5.6 cents over the previous two days. It is 3.5 cents more than one week ago, 39.2 cents less than one month ago and 82.4 cents more than one year ago. The Orange County average price has increased 67.2 cents since the attack on Iran.
“(The) Oil Price Information Service reports that investor anxiety this week about Middle East tensions disrupting oil supplies has significantly increased wholesale gasoline prices, leading to price jumps at the pump,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement Thursday. “It’s hard to know if this is a trend that will continue or just a temporary pause to the downward price trend that has been happening since mid-May.”
The national average price fell two-tenths of a cent to $3.882, after rising 9.4 cents over the previous three days. It is 7.2 cents more than one week ago, 24.7 cents less than one month ago and 71.4 cents more than one year ago. It has increased 90 cents since the attack on Iran.