The average price of a gallon of self-serve regular gasoline in Los Angeles County was 7.1 cents from matching its record Tuesday following an increase of 1.2 cents to $6.422, its highest amount since Oct. 8, 2022.
The average price has risen 42 consecutive days, increasing 78 cents, including 1 cent Monday, according to figures from the AAA and Oil Price Information Service. It is 18.1 cents more than one week ago, 68.7 cents higher than one month ago and $1.692 greater than one year ago.
The average price has increased $1.728 since the start of the joint U.S./Israel war on Iran on Feb. 28, which sent oil prices higher and drastically accelerated increases at the gas pump.
The record average price is $6.493 set Oct. 5, 2022.
The Orange County average price was 5.1 cents from matching its record after increasing 1.2 cents to $6.407, its highest amount since Oct. 6, 2022. It has also increased for 42 consecutive days, rising 83.2 cents, including three-tenths of a cent Monday.
The Orange County average price is 17.6 cents more than one week ago, 69.5 cents higher than one month ago and $1.699 greater than one year ago. It has increased $1.771 since the start of the war on Iran.
The Orange County record average price is $6.458 set Oct. 5, 2022.
The national average price dropped for the fourth consecutive day, decreasing 2.1 cents to $4.455. It has dropped 3.6 cents over the past four days, including three-tenths of a cent Monday. The decreases follow back-to-back increases totaling 1.7 cents.
The national average price is 2 cents less than one week ago but 37.4 cents more than one month ago and $1.32 higher than one year ago. It has increased $1.473 since the attack on Iran.
The average Los Angeles County and Orange County prices rose more than 2.5 cents per day over the past week while the national average price dripped by nearly three-tenths of a cent per day.
“Average gasoline prices fell in slightly more than half of states over the last week, with the Great Lakes seeing the largest declines after a major refinery successfully restarted, while the West Coast moved in the opposite direction as refinery snags there sent prices jumping significantly,’ Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement released Monday.
“With oil holding below $100 per barrel, many Americans may see modest declines ahead for gasoline, but the West Coast faces continued pressure with further increases possible. The broader geopolitical situation remains fluid and could push prices in either direction with little warning.”
The national average price is at its highest amount this late in the calendar year, according to De Haan.