LA County gas prices continue to climb

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Tuesday for the 16th consecutive day, increasing six-tenths of a cent to $5.162, its highest amount since Nov. 25.

The average price has increased 19 cents over the past 16 days, including three-tenths of a cent Monday, according to figures from the AAA and the Oil Price Information Service. The streak of increases follows a run of six decreases in seven days totaling 2.2 cents.

The average price is 5.2 cents more than one week ago and 21.9 cents higher than one month ago but 32 cents less than one year ago. It has dropped $1.332 since rising to a record $6.494 on Oct. 5.

The Orange County average price rose for the eighth consecutive day and 14th time in 15 days, increasing two-tenths of a cent to $5.104, its highest amount since Nov. 22. It has risen 20.3 cents over the past 15 days, including four-tenths of a cent Monday.

The Orange County average price is 5.9 cents more than one week ago and 22.1 cents higher than one month ago but 26.8 cents less than one year ago. It has dropped $1.355 since rising to a record $6.459 on Oct. 5.

The national average price dropped a half-cent to $3.824, its second decrease in four days following a 17-day streak of increases totaling 26.8 cents. It decreased two-tenths of a cent Sunday and was unchanged Saturday and Monday.

The national average price is 4.4 cents more than one week ago and 28.6 cents higher than one month ago but 23.5 cents less than one year ago. It has dropped $1.192 since rising to a record $5.016 on June 14, 2022.

"Average gasoline prices continued to move up last week thanks to a continued rise in oil and continued pressure from hot weather that impacted refineries," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

"However, the pace of increases has started to slow down over the last few days, and for now, appears to have hit a peak over the weekend and is beginning to gently fall. But with oil remaining under pressure from Saudi Arabia extending its 1 million barrel per day production cut into September, the respite from gasoline rising may not last long.

"Plus there remain unknowns about hurricane season that will likely become more active in the weeks ahead."