The 18-day streak in which self-serve regular gasoline prices increased in LA County was over ended Monday with a one-tenth of cent drop to $6.459.
According to data from the AAA, and the Oil Price Information Service, the average price rose by 36.9 Cents. In the last 16 days, records were set.
The average price is 9.3cs higher than one week ago, 54cs higher than one monthly ago, and $2.211 more than one year ago.
After a 17-day streak that saw increases in the Orange County average prices, there was a two-tenths decrease to $6.408. The streak saw it rise 35.1c, including 2/10ths of a Cent on Saturday and Sunday. In the last 16 days, records were set.
Orange County’s average price is now 6.7 cents higher than one week ago, 53.4 Cents higher than one monthly ago, and $2.205 more than one year ago.
Since Russia invaded Ukraine, the average LA County price has gone up $1.663. “sent shock waves through the oil market that have kept oil costs elevated,”Andrew Gross is a AAA national PR manager. Orange County’s average price has risen $1.631.
The U.S. Energy Information Administration estimates that crude oil costs account for about half of the pump prices. The price of gasoline and other components includes production costs, distribution cost, overhead costs, taxes and carbon offset fees that California refineries pay.
The national average price rose four-tenths a cent to $5.014. This is its 17th consecutive record, and 21st in 22 days. The price has risen 42.1 cents in the past 22 days, with six-tenths increasing to a cent Sunday.
The national average is 14.9cs higher than one week ago, 56.2cs higher than one monthly ago, and $1.936 more than one year ago.