News Summary
Gas prices in Los Angeles have dropped to an average of 4.466 per gallon, marking the lowest price since January. This decline has been ongoing with savings of 14.6 cents compared to last month. Orange County mirrors this trend with prices also falling. Experts warn future changes like the LCFS may lead to price increases, affecting consumers in the coming years.
Gas Prices in Los Angeles are on the Move: What You Need to Know!
Looks like the folks in Los Angeles are experiencing some ups and downs when it comes to gas prices! Recently, the average price of a gallon of self-serve regular gasoline dipped to 4.466, marking the lowest point since January 15. Can you believe it? This little drop of nine-tenths of a cent keeps the trend going from a recent five-day decline, adding up to a total of 2.6 cents that have vanished from our wallets.
But hang on, it’s not just a one-week wonder. This price is actually 2.1 cents lower than just a week ago, and if we compare it to last month, we’re looking at a savings of 14.6 cents. Even more impressive – this time last year, you would have been paying a whopping 15.8 cents more! Since hitting that crazy high of 6.493 per gallon on October 5, 2022, we’ve actually dropped $2.027. What a relief, right?
Orange County Is Not Far Behind
Over in Orange County, it’s a similar story. The average price fell for the fourth time in five days, down by six-tenths of a cent to 4.416. Like its neighbor, Orange County is riding the wave of lower prices, being 1.7 cents lower than last week and an even more appealing 14.9 cents less compared to last year. That’s a hefty $2.042 drop since reaching its own peak of 6.458 on the same day last October.
On a national scale, the average gas price just saw a slight dip as well, down by a cent to $3.15. While that’s hardly a game-changer, it’s good to know it’s 7 cents lower than a month ago, and astonishingly, it’s down $1.866 from its peak of $5.016 back in June 2022.
What’s Coming Down the Pipeline?
As we look ahead, the scene is a bit mixed. Starting July 1, California will roll out a revamped Low Carbon Fuel Standard (LCFS), with the idea of reducing climate-warming gases. The catch? Some folks are worried that this will lead to gas prices creeping up once again. Critics of the new regulations are voicing their concerns about the economic impact; however, no immediate price hikes are expected.
Here’s the kicker: the LCFS could add an extra 5 to 8 cents per gallon in the future. And let’s not forget about the gas tax hike coming up – from 59.6 cents to 61.2 cents starting July 1, aimed at funding road repairs. On top of that, the LCFS is projected to cut carbon emissions significantly by 2046, which could be a massive win for the environment even if it stings our wallets a bit more now and then.
What Are the Experts Saying?
Experts warn that California might see gas prices rise significantly over the next few years due to supply disruptions from refinery closures, with some predictions suggesting prices could hit the stratosphere at around $8 per gallon by 2026. That’s quite a jump from where we are now, wouldn’t you say?
The California Air Resources Board explains that gas prices today are much lower than they used to be, and they are committed to advancing cleaner fuel initiatives. Nonetheless, with the heightened scrutiny and concerns about the real cost impact of these changes, local lawmakers are proposing measures to protect consumers.
In summary, while gas prices are lower right now, looming changes could mean we aren’t out of the woods just yet. Stay tuned, folks! The road ahead is looking a bit bumpy.
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Additional Resources
- My News LA
- NBC Los Angeles
- ABC7 News
- Los Angeles Times
- LAist
- Wikipedia: Gasoline
- Google Search: California gas prices 2023
- Google Scholar: Gas price trends California
- Encyclopedia Britannica: Gasoline
- Google News: 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.
