Los Angeles County average has climbed sharply as global tensions push oil prices higher.
Gas prices in Los Angeles County have surged in recent weeks, pushing the average cost of regular gasoline to its highest level in nearly two years.
The average price for a gallon of regular gasoline in the county reached $5.407 on Thursday, according to fuel price data. The figure marks the highest average price since Oct. 29, 2023.
Prices have risen sharply over the past month. The countywide average stood at $4.577 a month ago, compared with $4.880 one week ago and $4.677 at the same time last year. The recent increase amounts to an 82-cent jump over the past month.
The record-high average price in Los Angeles County remains $6.495 per gallon, set on Oct. 5, 2022.
Analysts say the latest spike is being fueled by global instability tied to the war involving Iran, which has rattled energy markets and pushed crude oil prices toward $100 a barrel. The conflict has disrupted shipping through the Strait of Hormuz, a key global oil route, adding immediate pressure to fuel prices in California and across the country.
According to the agency, oil shipments moving through the Strait of Hormuz have slowed dramatically. Roughly one-fifth of the world’s oil supply normally passes through the narrow waterway connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea.
Iran has threatened to target U.S., Israeli, or allied vessels attempting to pass through the strait, raising concerns about further disruptions to global energy supply.
Multiple sources familiar with the matter told CNN that the Pentagon and National Security Council significantly underestimated Iran’s willingness to move against the Strait of Hormuz in response to U.S. military strikes while planning the current operation. Those sources said President Donald Trump’s national security team did not fully account for the possible fallout from what some officials have described as a worst-case scenario now confronting the administration.