LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the sixth consecutive day after dropping six of the previous seven days, increasing one-tenth of a cent to $4.87.
The average price has risen 4.2 cents over the past six days, including six-tenths of a cent Tuesday, which Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, attributes to higher demand prompted by the Memorial Day weekend.
The average price dropped 2.5 cents over the previous eight days, according to figures from the AAA and the Oil Price Information Service. It is 4 cents more than one week ago but 5.6 cents less than one month ago and $1.227 lower than one year ago.
The average price has dropped $1.626 since rising to a record $6.494 on Oct. 5.
The Orange County average price rose for the second day in a row, increasing eight-tenths of a cent to $4.834. It rose for three consecutive days, including 2.6 cents Friday and eight-tenths of a cent Saturday, before dropping one-tenth of a cent Monday, then rising two-tenths of a cent Tuesday.
The Orange County average price is 4.5 cents more than one week ago but 5.4 cents less than one month ago and $1.236 lower than one year ago. It has dropped $1.641 since rising to a record $6.459 on Oct. 5.
The national average rose 1.8 cents to $3.561 a day after dropping three-tenths of a cent. It 2.9 cents more than one week ago but 10.6 cents less than one month ago and $1.037 lower than one year ago.
The national average price has dropped $1.455 since rising to a record $5.016 on June 14.
“In the run up to Memorial Day, the national average price of gas has seen little overall movement over the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations.
“We’ve seen more states see prices climb then fall, which has been driven by oil’s volatility as debt ceiling discussions are ongoing. I think we’ll see prices rise slightly as we get closer to Memorial Day, especially if there are positive developments in the debt ceiling discussions in D.C., while pessimism could drive prices slightly lower,” De Haan added.