Maintenance work halting production at local refineries and investor sentiment have caused gasoline prices to jump 11.6 cents the last two days in Southern California, according to oil industry observers.
The average price of a gallon of self-serve regular gas in Los Angeles County shot up 3.9 cents Saturday to $4.747 after spiking 7.7 cents Friday, the largest increase since Sept. 28, 2023, according to the AAA and the Oil Price Information Service.
Industry analysts have attributed the price increase to planned and unexpected refinery maintenance work that has reduced the local gasoline supply, as well as investors anticipating gasoline prices may trend higher.
“Southern California gas stations can begin selling the cheaper-to-produce ‘winter blend’ gasoline on Saturday, which would normally help to further push down pump prices,” Doug Shupe, spokesperson for the Automobile Club of Southern California, said in a statement earlier this week. “However, we have seen price jumps in a couple of areas in the last day in response to higher Los Angeles wholesale gasoline prices this week. Oil Price Information Service reports that wholesale prices are up double digits this week due to some planned and unplanned refinery maintenance and stronger futures expectations for gas prices.”
LA County’s average price is 11.3 cents more than a week ago, 2.3 cents more than one month ago and 22.3 cents higher than a month ago, the AAA and OPIS reported. The average price is $1.746 lower than the record of $6.493 set Oct. 5, 2022.
Orange County’s average price increased 3.8 cents to $4.71 after rising 8.9 cents Friday for its largest increase since Sept. 28, 2023.
The Orange County average is 12.8 cents more than one week ago, 1.4 cents higher than one month ago and 28.9 cents above the year-ago average. The price has decreased $1.748 since reaching a record $6.458 Oct. 5, 2022.
The average price of a gallon of self-serve regular gasoline in Riverside County increased 2.1 cents Saturday to $4.612, a day after jumping 7.6 cents to post the largest increase since Sept. 29, 2023.
The Riverside County price increases followed eight decreases in nine days totaling 6.8 cents.
Riverside County’s average price is 8.8 cents more than one week ago, eight-tenths of a cent more than one month ago and 22.9 cents more than a year ago. The average has dropped $1.761 since the record of $6.373 on Oct. 5, 2022.
In San Bernardino County, the average gasoline price rose 2.4 cents from $4.58 Friday to $4.604 Saturday. The week-ago average of $4.53 has increased 7.4 cents to the current total.
The price decreased a slight four-tenths of a cent from the same time last month when the average was $4.608. A year ago, the average price totaled $4.433.
The national average price decreased two-tenths of a cent to $3.038 Saturday. It is 2.1 cents less than the same time last week, 12.2 cents less than one month ago and 8.4 cents less than a year ago. The average has decreased $1.978 after a record $5.016 set June 14, 2022.
