Southland gasoline prices were back on the rise Saturday, with a gallon of self-serve regular in Los Angeles County increasing 3.1 cents to $6.019, according to the AAA and Oil Price Information Service.
Prior to the current three-day streak of increases, the LA County’s average price had dropped for 14 consecutive days.
The average is is 8.2 cents higher than one week ago, 7.5 cents more expensive than a month ago and $1.221 higher than at the same time last year. Saturday’s price is 47.5 cents less than the record $6.494 average set Oct. 5, 2022.
Orange County’s average gasoline price increased for the fourth day in a row, rising 3.3 cents to $5.971. The OC average is 11.6 cents more than a week ago, 7.8 cents higher than one month ago and $1.219 higher than a year ago. It is 48.8 cents lower than the record $6.459 on Oct. 5, 2022.
“As long as world oil supplies are constricted, California pump prices will continue to be volatile,” Automobile Club of Southern California spokeswoman Kandace Redd said in a statement Thursday. “Although today’s average prices are close to $6 a gallon locally, it’s important to know that many stations charge prices that are 50 or 60 cents lower per gallon than the average price.”
The national average gas price rose 2.7 cents to $4.086, the third straight increase. The national average is 2.8 cents higher than one week ago, 10.3 cents above the month-ago price and 92.1 cents more than a year ago. Saturday’s national average is 93 cents lower than the record $5.016 set June 14, 2022.
Inland Empire
The average price of a gallon of self-serve regular gas in Riverside County increased for the fourth consecutive day Saturday, rising 3 cents to $5.86.
The average price has increased 10.3 cents over the past four days, including 4.7 cents Friday. It is 8.3 cents more than a week ago, 5.5 cents more than one month ago and $1.189 higher than a year ago. Riverside County’s average price is 51.3 cents less than the record $6.373 on Oct. 5, 2022.
Before the current streak of increases, the average price had declined 12 times in 13 days.
The average pice in San Bernardino County was $5.883 Saturday, up from $5.859 Friday. The average one week ago was $5.819, one month ago it was $5.816, while at the same time last year the average price was $4.636. San Bernardino County’s record price was $6.375 set Oct. 5, 2022.
San Diego
The average gas price in San Diego County rose for the fourth consecutive day Saturday, up 3.4 cents to $5.968.
The average has increased 9.6 cents over the last four days, including a 4.9-cent spike on Friday. San Diego County’s average price is 9.8 cents more than a week ago, 6.5 cents higher than a month ago and $1.20 more than a year ago. Saturday’s average is 46.7 cents less than the record $6.435 on Oct. 5, 2022.
Patrick De Haan, head of petroleum analysis at GasBuddy, said during the streak of price drops that increases were likely on the horizon.
“Oil prices surged in Sunday night trading after Iran re-closed the Strait of Hormuz and President Trump signaled further escalation if Tehran does not come to an agreement,” De Haas said in a statement Monday. “With global oil flows remaining at risk, renewed volatility is taking hold, and the continued back-and-forth is making any lasting resolution increasingly fragile. As a result, gasoline prices are likely to rise again in the days ahead, with diesel expected to follow if disruptions persist, and many of the states that exhibit price cycling could see increases in the next 24-48 hours.”
As UBS commodities analyst Giovanni Staunovo observed in an email to GasBuddy, oil prices “continue to react primarily to escalation or de-escalation headlines. Intensifying strikes have pushed prices higher, while de-escalation headlines and hopes for the reopening of the Strait of Hormuz have weighed on them. For now, flows through the Strait remain restricted, with the market watching closely to see whether U.S.-Iran talks take place in Pakistan this week.”
On Saturday, peace talks with Iran stalled when President Donald Trump canceled the U.S. envoys’ trip to Islamabad.
“Too much time wasted on traveling, too much work!” Trump posted on his Truth Social online platform. “Besides which, there is tremendous infighting and confusion within their ‘leadership.’ Nobody knows who is in charge, including them. Also, we have all the cards, they have none! If they want to talk, all they have to do is call!!!”
Earlier Saturday, a delegation from Iran met with Pakistani mediators amid stalled peace negotiations with the U.S. The two sides are currently engaged in a ceasefire, after Trump extended a temporary halt to military action this week.