News Summary
Gas prices in Los Angeles and Orange Counties have seen a slight decrease over the weekend, with Los Angeles County’s average dropping by 0.8 cents to $4.465 per gallon. Orange County followed suit with a drop of 0.6 cents, bringing the average to $4.412. These changes come after a period of rising prices, and while prices remain lower than last year, potential future hikes loom due to California’s gas excise tax increase and overall supply dynamics.
Gas Prices Take a Tiny Dip in Los Angeles and Orange Counties
Hey there, Los Angeles and Orange County residents! If you’ve been keeping an eye on the gas prices, there’s some news that might catch your interest. Over the weekend, the average price of a gallon of self-serve regular gasoline in Los Angeles County took a small leap down, dropping by 0.8 cents to rest at about $4.465. After a bit of back-and-forth, this marks the end of three consecutive days of slight decreases in prices.
Price Comparisons: How Are We Doing?
Just to put things in perspective, this recent dip brings the LA average to just 0.1 cents lower than what it was a week ago, a cool 11 cents lower than it was a month ago, and about 14.7 cents lower than 12 months ago. Can you believe it? Prices have actually fallen by a whopping $2.028 since the record high of $6.493 that we hit last October. Now that’s something to smile about!
Meanwhile, over in Orange County, gas prices also showed a bit of good news. The average price dropped by 0.6 cents to reach $4.412. This slight decrease ended a three-day streak of rising prices in the area. When you look at it more closely, Orange County’s average price is 0.4 cents less than a week ago and 9.1 cents lower than last month. Compared to a year ago, prices are down 12.8 cents—not too shabby!
Some Background: What’s Been Happening?
Both counties saw prices reach record heights last October, with Orange County hitting $6.458. Since then, prices have decreased by $2.046. Doug Shupe, a transportation expert, pointed out that California gas prices are currently holding steady even with the demand surging during summer and crude oil prices slightly rising.
In fact, regions like Los Angeles-Long Beach, San Diego, Riverside, and even the Central Coast are facing minor decreases due to a solid supply of gas. But don’t let your guard down just yet, as there are some hints of changes ahead.
The Bigger Picture: National Trends
On a national level, the average gas price has been on the upswing, increasing for four straight days by a slight 0.1 cents to reach $3.152. While this figure is a little higher than a week ago and significantly lower than this time last year, it certainly shows that prices can change quickly!
For those curious, this national average has decreased by about $1.864 from its peak of $5.016 back in June 2022. However, keeping track of gas prices doesn’t mean we can breathe easy just yet—potential hikes due to factors like the California gas excise tax coming into play and stricter regulations on refineries could mean a significant uptick in prices this summer.
Looking Ahead: What Should We Expect?
Brace yourselves, folks! Starting July 1, California’s gas excise tax is set to increase from 59.6 cents to 61.2 cents per gallon. This could contribute to gas prices rising by nearly 70 cents, which is no small change. Plus, the California Air Resources Board is eyeing amendments to the Low Carbon Fuel Standard that may further elevate prices.
With all these factors in play, some experts are even predicting that gas prices in California could reach a staggering $8 a gallon by 2026 due to anticipated supply shortages. With these prices, many consumers are now considering other transportation options to ease the financial pinch they might feel at the pump.
Final Thoughts
So, there you have it! While there’s a bit of good news in the recent decreases in gas prices in Los Angeles and Orange Counties, keep your eyes peeled for potential hikes coming our way. Whether you’re filling up your tank or thinking about switching up your travel methods, stay informed and safe out there!
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Additional Resources
- MyNewsLA: Average LA & Orange County Gas Prices Decline Slightly
- LA Times: Summer Road Trip Gas Prices
- ABC7: California Gas Prices Could Top $8/Gallon
- Encyclopedia Britannica: Gas Prices
- Google Scholar: California Gas Prices
Author: STAFF HERE HUNTINGTON BEACH
The Huntington Beach Staff Writer represents the experienced team at HEREHuntingtonBeach.com, your go-to source for actionable local news and information in Huntington Beach, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Huntington Beach Surf City USA Marathon, the U.S. Open of Surfing, Fourth of July celebrations at the Huntington Beach Pier, and community festivals at Huntington Beach Central Park. Our coverage extends to key organizations like the Huntington Beach Chamber of Commerce and Visit Huntington Beach, plus leading businesses in retail, hospitality, and outdoor recreation that drive the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERECostaMesa.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
