2024-01-04 14:26:47
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose one-tenth of a cent Thursday to $4.757, one day following dropping four-tenths of a cent.
The average price is 2 cents more than one week ago and 22.8 cents higher than one year ago but 15.7 cents less than one month ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.737 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price dropped a half-cent to $4.658, one day following rising two-tenths of a cent. It is 2.9 cents more than one week ago and 19.9 cents higher than one year ago but 9 cents less than one month ago.
The Orange County average price has dropped $1.801 from its record high of $6.459 set Oct. 5, 2022.
“Although Southern California gas prices in 2023 had a lower overall annual average price for the whole year than in 2022, daily gas price averages at the end of 2023 did not drop as much as they did at the end of 2022, so the region is starting 2024 at a higher average price,” Marie Montgomery, a public affairs specialist with the Automobile Club of Southern California, told City News Service.
“The reason for this is that wholesale gasoline prices did not drop as far as at the end of 2022 and began swinging upward in the last two weeks of December, mainly driven by trading activity on the wholesale market that anticipates more gas demand from stronger economic expectations this year.”
The Los Angeles and Orange County average prices were at their highest amounts to start a year Monday, $4.76 and $4.658, erasing the previous highs of $4.683 and $4.648, both set in 2022.
“Prices have risen in California due to localized refining issues,” Dhara Nayyar, a White House senior regional communications director, told City News Service.
California Republican Party Chairwoman Jessica Millan Patterson pointed to “failed Democrat policies” for the increasing prices.
The national average price dropped for the 12th time in 13 days, decreasing four-tenths of a cent to $3.09. The run totaling 3.9 cents includes five decreases of one-tenth of a cent and follows a four-day streak of increases totaling 6.1 cents.
The national average price is 3.1 cents less than one week ago, 15.2 cents lower than one month ago and 17 cents below one year ago. It has decreased $1.926 since rising to a record $5.016 on June 14, 2022.
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