Average gas price in Los Angeles County approaches all-time record high

LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County was 10.6 cents from matching its record Saturday following an increase of 5.1 cents to $6.387, its highest amount since Oct. 10, 2022.

The average price has risen 39 consecutive days, increasing 74.5 cents, including 5.4 cents Friday, according to figures from the AAA and Oil Price Information Service. It is 20.3 cents more than one week ago, 69.3 cents higher than one month ago and $1.665 greater than one year ago.

The average price has increased $1.693 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 8.9 cents from matching its record after increasing 4.6 cents to $6.369, its highest amount since Oct. 7, 2022. It has also increased for 39 consecutive days, rising 79.4 cents, including 5.8 cents Thursday.

The Orange County average price is 20.9 cents more than one week ago, 72 cents higher than one month ago and $1.677 greater than one year ago. It has increased $1.733 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 four-tenths of a cent to $4.487 after back-to-back increases totaling 1.7 cents. It is 1.2 cents more than one week ago, 38.6 cents higher than one month ago and $1.339 greater than one year ago.

The national average price has increased $1.505 since the attack on Iran.

The Los Angeles County average price rose 2.9 cents per day over the past week and the Orange County average price rose nearly 3 cents per day while the national average price rose by less than two-tenths of a cent per day.

“Typically, the start of autumn brings lower gas prices, but lingering volatility in the Strait of Hormuz and the high cost of crude oil are driving up pump prices,” according to the AAA.

The national average price is at its highest amount this late in the calendar year, according to Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.