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LA County Gasoline Prices Rise 11th Time in 12 Days

Published on Tuesday, March 26, 2024 | 6:35 am
 

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Tuesday to its highest amount since Nov. 21, increasing eight-tenths of a cent to $5.046, rising for the 11th time in 12 days.

The average price has risen 11.6 cents over the past 12 days, including a half-cent Monday, according to figures from the AAA and Oil Price Information Service. It rose three consecutive days, dropped one-tenth of a cent March 18 and resumed increasing last Tuesday.

The average price is 8.2 cents more than a week ago, 24.9 cents higher than one month ago and 19.5 cents greater than one year ago. It has dropped $1.448 since rising to a record $6.494 on Oct. 5, 2022.

The national average price changed by one-tenth of a cent for the third consecutive day following an 11-day streak of increases totaling 14 cents, dropping one-tenth of a cent to $3.533. It also dropped one-tenth of a cent Sunday and rose one-tenth of a cent Monday.

The national average price is 4.4 cents more than it was one week ago, 26.9 cents higher than it was one month ago and 9.4 cents greater than it was one year ago. It has dropped $1.483 since rising to a record $5.016 on June 14, 2022.

“We’ve now seen the national average price of gasoline rising for four straight weeks, which isn’t uncommon for this time of year,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“What is uncommon is the number of attacks on Russian oil refiners — attacks which could have ripple effects worldwide if they continue. Russia could see more capacity impacted by the attacks, forcing it to buy such products on the global market, pushing prices up everywhere.

“With oil prices now under more pressure and attacks potentially increasing on Russian refiners, we could be in for a few more weeks of rising prices. Significant as well is the fact that Americans are now seeing inflation again at the pump with prices higher than they were a year ago.”

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