News Summary
Gas prices in California are on the rise again, particularly in Los Angeles, where the average price per gallon has reached $4.47. This marks a second consecutive increase, although prices are still down compared to last year. Meanwhile, Orange County shows similar trends with a slight uptick. As residents brace for a planned gas tax increase and stricter environmental regulations set to take effect in July, lawmakers express concern for families already struggling with high living costs. Experts warn that gas prices could soar to $8 per gallon by 2026 without changes to current policies.
California Gas Prices on the Rise: What You Need to Know
Los Angeles is feeling the pinch at the pump as gas prices are set to increase further come July 1. As of now, the average price of a gallon of self-serve regular gasoline in LA County has ticked up by 0.2 cents, now sitting at $4.47. This marks the second consecutive increase in gas prices after a brief drop that brought prices to their lowest level since mid-January.
Over the past week, LA County has seen an average decrease in gas prices of about 2.6 cents, which is certainly a small comfort to drivers. Compared to last month, the average gas price has dropped by 12.4 cents and is down 16.1 cents from last year. Just last October, prices peaked at a troubling $6.493, which means we’re now spending $2.023 less per gallon. It’s a small victory, although most would agree we’d like to see prices continue to drop.
Orange County Mirrors LA’s Trends
Over in Orange County, the average price has also seen slight movement. The current price stands at $4.416, following a recent upward shift of just 0.1 cents after five days of declines. However, when we consider the broader trend, Orange County gas prices are down 1.6 cents compared to just a week ago, down 9.5 cents from a month ago, and 15.5 cents lower than they were this time last year.
On the national scene, the average price for gasoline has dipped slightly as well, dropping by 0.2 cents to $3.143. This marks the fourth consecutive decrease at the national level, although it’s still slightly higher than a week ago. As we look back over the last year, the national average has decreased by 36.2 cents since its peak of $5.016.
Brace Yourself for Upcoming Increases
Sadly, the news isn’t all roses. Starting July 1, California residents are facing an increase in the gas excise tax from 59.6 cents to 61.2 cents per gallon due to annual inflation adjustments. Alongside this tax hike, stricter regulations under the Low Carbon Fuel Standard will soon kick in. Experts estimate that these new environmental measures could add anywhere from 5 to 65 cents to the price of gasoline.
This impending increase has led to some pushback, with local politicians voicing concern over rising gas prices and their impact on families’ budgets. A petition calling for a repeal of the gas tax hike has amassed over 39,000 signatures. There are calls to suspend these rising costs to alleviate pressures on households that are already grappling with a higher cost of living.
What Does the Future Hold?
Economists warn that if current trends continue, we could see prices reaching as high as $8 per gallon by 2026, particularly if we face refinery closures coupled with stringent regulations. Currently, California boasts the highest gas tax rates in the entire U.S., adding to the financial strain that locals may face as they head to the pump.
While some estimates predicting major price surges have been dismissed by state officials, the looming changes undoubtedly raise questions about how such factors will influence overall gasoline availability and pricing in the state.
As we prepare to face these shifts in gas prices, it’s clear that the relationship between fuel costs, taxes, and environmental standards is a complex one that affects all California residents. Buckle up—this ride at the pump might get bumpier before it gets smoother!
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