The average price of a gallon of self-serve regular gasoline in Los Angeles County shot up 17.5 cents on Saturday, March 7, to $5.165, the largest one-day increase since the record 19.2-cent spike of Oct. 5, 2012.
The Los Angeles County average price, which rose 11 cents on Friday, is the highest it’s been since May 20, 2024. It is 47.1 cents more than one week ago, 66 cents more than one month ago and 44.6 cents more than one year ago, according to figures from the AAA and Oil Price Information Service. It has dropped $1.329 since rising to a record $6.494 on Oct. 5, 2022.
ALSO SEE: Gas prices in Southern California spike after Iran attack
The Orange County average price also saw its largest increase since a record 19.5-cent spike on Oct. 5, 2012, rising 17.7 cents to $5.153, its highest amount since May 14, 2024. The Orange County average price is 51.7 cents more than one week ago, 72.8 cents more than one month ago and 47.5 cents more than one year ago. It has dropped $1.306 since rising to a record $6.459 on Oct. 5, 2022.
The average price in Riverside County shot up 17.3 cents Saturday to $5.063, its largest one-day increase since Oct. 5, 2012. The average price has risen 37 of the past 38 days, including 11.9 cents Friday, and is the highest it’s been since May 21, 2024. The average price is 51.2 cents more than one week ago, 73.3 cents more than one month ago and 49.6 cents more than one year ago. It has dropped $1.31 since rising to a record $6.373 on Oct. 5, 2022.
Prices were rising slightly in line with seasonal norms before the joint U.S./Israel attack on Iran on Feb. 28 sent oil prices higher and drastically accelerated increases at the gas pump.
“It’s unknown how long these price spikes will last or how high prices will climb — that will all depend on how long oil supplies remain disrupted,” Kandace Redd, the Automobile Club of Southern California’s senior public affairs specialist, said in a statement released Thursday. “Oil prices have increased by about $10 a barrel since last weekend,” she added.
The national average price rose 9.3 cents to $3.413, its highest amount since Aug. 18, 2024. The national average price is 43.1 cents more than one week ago, 51.5 cents more than one month ago and 30.7 cents more than one year ago. It has dropped $1.603 since rising to a record $5.016 on June 14, 2022.
“The conflict in the Middle East has sent crude oil prices higher to the mid $70/barrel range … Springtime typically sees higher gas prices as gasoline demand rises and summer-blend gasoline production begins. The last time the national average made a similar weekly jump was back in March of 2022 during the start of the Russia/Ukraine conflict,” the AAA said Thursday.
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