The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped four-tenths of a cent to $4.358 Tuesday after back-to-back increases totaling nine-tenths of a cent.
The average price is seven-tenths of a cent more than one week ago, but 9.8 cents less than one month ago and 14.2 cents lower than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price has dropped $2.136 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price rose one-tenth of a cent to $4.245, one day after four-day streak of increases totaling 2.1 cents ended when it was unchanged.
The Orange County average price is 1.7 cents more than one week ago but 9.2 less than one month ago and 19 cents lower than one year ago. It has dropped $2.214 since rising to a record $6.459 on Oct. 5, 2022.
The national average price rose for the sixth time in seven days, increasing seven-tenths of a cent to $2.888. It has increased 6.6 cents over the past six days, including 1.7 cents Monday. It rose three consecutive days, was unchanged Saturday and resumed increasing Sunday.
The run of rising prices follows a run of four decreases in five days totaling 2.2 cents
The national average price is 5.2 cents more than one month ago but 23.4 cents less than one year ago. It has dropped $2.128 since rising to a record $5.016 on June 14, 2022.
“Average gasoline prices have jumped for a second straight week as oil prices have climbed back above the $60-per-barrel mark amid ongoing geopolitical tensions,” 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.
“New sanctions on Iran’s oil are making it more difficult for those barrels to reach the market, tightening supply, while the major winter storm that sent temperatures plunging is also likely to impact refineries, causing disruptions and reduced output.”