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Home / News / Business / LA County average gasoline price increases for 5th straight day

LA County average gasoline price increases for 5th straight day

by City News Service
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By Steven Herbert

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Tuesday for the fifth consecutive day after dropping six of the previous seven days, increasing six-tenths of a cent to $4.869.

The average gasoline price has risen 4.1 cents over the past five days, including four-tenths of a cent Monday, which Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, attributes to higher demand prompted by the Memorial Day weekend.

The average price dropped 2.4 cents over the previous seven days, according to figures from the AAA and the Oil Price Information Service. It is 3 cents more than one week ago but 5.6 cents less than one month ago and $1.229 lower than one year ago.

The average price has dropped $1.625 since rising to a record $6.494 on Oct. 5.

The Orange County average gasoline price resumed increasing after a one-day interruption, rising two-tenths of a cent to $4.826. It rose for three consecutive days, including 2.6 cents Friday and eight-tenths of a cent Saturday, before dropping one-tenth of a cent Monday.

The Orange County average price is 3.4 cents more than one week ago but 6.5 cents less than one month ago and $1.245 lower than one year ago. It has dropped $1.633 since rising to a record $6.459 on Oct. 5.

The national average price dropped three-tenths of a cent to $3.543 after rising nine-tenths of a cent over the previous five days, including one-tenth of a cent Monday. It 1.2 cents more than one week ago but 12.6 cents less than one month ago and $1.053 lower than one year ago.

The national average price has dropped $1.473 since rising to a record $5.016 on June 14.

“In the run up to Memorial Day, the national average price of gas has seen little overall movement over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.

“We’ve seen more states see prices climb than fall, which has been driven by oil’s volatility as debt ceiling discussions are ongoing. I think we’ll see prices rise slightly as we get closer to Memorial Day, especially if there are positive developments in the debt ceiling discussions in D.C., while pessimism could drive prices slightly lower.”

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