The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Monday for the 25th time in 26 days, increasing 1 cent to $4.665, its highest amount since Dec. 4.
The average price has risen 30.8 cents over the past 26 days, including a half-cent on Sunday, according to figures from the AAA and Oil Price Information Service. It rose 20 consecutive days, dropped three-tenths of a cent on Wednesday and resumed increasing on Thursday.
The average price is 4.7 cents more than one week ago and 31.2 cents higher than one month ago, but 11.8 cents less than one year ago. It has dropped $1.829 since rising to a record $6.494 on Oct. 5, 2022.
The Orange County average price rose for the 26th consecutive day, increasing three-tenths of a cent to $4.602, its highest amount since Dec. 3. It has increased 35.9 cents during the streak, including six-tenths of a cent on Sunday.
The Orange County average price is 6.6 cents more than one week ago and 36.6 cents higher than one month ago, but 14.8 cents less than one year ago. It has dropped $1.857 since rising to a record $6.459 on Oct. 5, 2022.
The national average price resumed increasing, rising four-tenths of a cent to $2.938, one day after a four-day streak of increases totaling 1.8 cents. It is 1.1 cents more than one week ago and 7.6 cents higher than one month ago, but 20.7 cents less than one year ago.
The national average price has dropped $2.078 since rising to a record $5.016 on June 14, 2022.
“Average gasoline prices continue to drift higher as crude oil trades near its highest level since last summer, driven by mounting geopolitical risk premiums tied to escalating tensions between the United States and Iran,” head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, said in a statement.
“While there has been no direct disruption to energy infrastructure, markets are increasingly pricing in the possibility of a broader exchange that could threaten supply flows. Beyond geopolitics, we’re also seeing localized supply constraints, including refinery outages and disruptions along the Olympic Pipeline, which have amplified price pressures in the Pacific Northwest.
“These developments are unlikely to be isolated, as planned refinery maintenance is set to intensify in the weeks ahead. As seasonal supply tightens, the national average is increasingly likely to retest the $3-per-gallon threshold.”