Average LA County gas price has jumped 76 cents in 23 days

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Wednesday, September 27, 2023
Average LA County gas prices rises for 21st time in 23 days
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose for the 21st time in 23 days.

LOS ANGELES (KABC) -- The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the 21st time in 23 days, increasing 2.3 cents to $6.162.



The average price has risen 76.5 cents over the past 23 days, including 2.3 cents Tuesday, according to figures from the AAA and Oil Price Information Service. The average price rose 16 consecutive days, dropped nine- tenths of a cent Thursday and 2.3 cents Friday, then resumed increasing Saturday.



The average price is 9.3 cents more than one week ago, 79.9 cents higher than one month ago and 20.3 cents above what it was one year ago. It has dropped 33.2 cents since rising to a record $6.494 on Oct. 5.



The Orange County average price rose for the 24th time in 26 days, increasing 2.1 cents to $6.132. The average price has risen 81.6 cents over the past 26 days, including 2.3 cents Tuesday.



The Orange County average price rose 19 consecutive days, dropped 3.3 cents Thursday and 2.5 cents Friday, then resumed increasing Saturday. It is 8.7 cents more than one week ago, 82.3 cents higher than one month ago and 19.5 cents above what it was one year ago.



The Orange County average price has dropped 32.7 cents since rising to a record $6.459 on Oct. 5.



Fed leaves interest rates unchanged amid optimism US can avert recession


The Federal Reserve left its benchmark interest rate unchanged on Wednesday, pausing an aggressive inflation fight amid growing optimism.

The national average price resumed dropping, decreasing six-tenths of a cent to $3.832, one day after it dropped 1.1 cents. It is 4.3 cents less than one week ago but 1.4 cents more than one month ago and 8.5 cents higher than one year ago.



The national average price has dropped $1.184 since rising to a record $5.016 on June 14, 2022.



"It's been a mostly quiet week for the national average price of gasoline, with most states seeing gas prices cool off," said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.



"But new and continued refinery issues in some regions have had an oversized effect on gas prices in some states, especially in Southern California, Arizona, and Nevada. While most states are likely to continue seeing gasoline prices fall in the week ahead, any new refinery issues as others begin maintenance could be problematic."



NBA star astonished at LA's gas prices



Miami Heat guard Jimmy Butler is among those stunned by the high price of gasoline in Los Angeles County.



Using an expletive, the basketball star called it "highway f------ robbery" in a video he shared on social media.



The clip shows Butler pumping gas at a gas station in Beverly Hills, where he spent $145.28 to fill up his Bugatti.



"This is crazy," Butler said. "I'm going electric."



City News Service contributed to this report.


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