Irvine residents filling up their vehicles have seen Orange County gasoline prices rise for 40 consecutive days, pushing average costs close to the record highs last seen in October 2022. On Sunday, the average price for a gallon of self-serve regular gasoline in Orange County reached $6.385. This figure marks the highest average since October 7, 2022. The current average stands 7.3 cents shy of its all-time record of $6.458, established on October 5, 2022.
Over the past 40 days, the average price in Orange County has increased by 81 cents. This consistent climb included a 4.6-cent rise on Saturday alone. When compared to previous periods, the current Orange County average price is 20.5 cents higher than it was one week ago, and 73.2 cents more than one month ago. Looking back a full year, residents are now paying $1.688 more per gallon than they were at this time last year.
According to figures from the AAA and Oil Price Information Service, a significant acceleration in price increases at the gas pump has been noted since February 28. The reporting connects this to an event it identifies as the start of the joint U.S./Israel war on Iran, which reportedly sent oil prices higher. Since that time, the average price of gasoline in Orange County has increased by $1.749.
Neighboring Los Angeles County has experienced a similar trend. The average price for a gallon of self-serve regular gasoline there also rose for its 40th consecutive day on Sunday, increasing 1.3 cents to $6.40. This marks the highest price in Los Angeles County since October 10, 2022. The current average is 9.3 cents below its record high of $6.493, which was set on October 5, 2022.
The 40-day surge in Los Angeles County has seen prices increase by 75.8 cents. This includes a 5.1-cent jump on Saturday. A week ago, the average price in Los Angeles County was 19.8 cents lower. One month ago, it was 69.5 cents lower, and one year ago, it was $1.675 less per gallon. The same reporting indicates that Los Angeles County’s average price has increased by $1.706 since February 28, the date cited as the start of the joint U.S./Israel war on Iran.
Nationally, the average price for a gallon of self-serve regular gasoline has shown a slight decline, decreasing by eight-tenths of a cent to $4.479. Despite this recent dip, the national average remains higher than in recent historical comparisons. It is three-tenths of a cent more than one week ago, 38 cents more than one month ago, and $1.342 more than one year ago. The national average has also increased by $1.497 since the February 28 event the reporting identifies as an attack on Iran. Patrick De Haan, head of petroleum analysis at GasBuddy, stated that the national average price is currently at its highest amount for this late in the calendar year. GasBuddy provides real-time gas price information from over 150,000 stations.
