Orange County drivers got a mild reprieve from gasoline price hikes this week.
The average price of a gallon of self-serve regular gasoline in Orange County on Friday, April 19, decreased by a half-cent to $5.341, according to figures from the AAA and Oil Price Information Service. That’s the third drop in four days, following a 28-day streak of increases totaling 44 cents that boosted gas prices to their highest amount since Oct. 24.
The streak of gains ended Tuesday when the average price dropped two-tenths of a cent. It rose three-tenths of a cent Wednesday and dropped three-tenths of a cent Thursday.
Friday’s Orange County average price is two-tenths of a cent more than one week ago, 42.9 cents higher than one month ago, and 41.8 cents greater than one year ago. It has dropped $1.118 since rising to a record $6.459 on Oct. 5, 2022.
Supplies are tight – but relief may be coming.
“According to Oil Price Information Service, yesterday’s U.S. Energy Information Administration report showed that West Coast gasoline inventories are at their lowest level in two years,” Doug Shupe, the Automobile Club of Southern California’s corporate communications manager, said Thursday. “However, OPIS also reported that imported gasoline should be on its way to California in the next few weeks, which should help ease the upward pressure on pump prices.”
The national average price rose for the 15th time in 17 days, increasing a half-cent to $3.679. It has increased 14.4 cents over the past 17 days, including 1.4 cents Thursday. The national average price rose 10 consecutive days, dropped one-tenth of a cent Saturday and Sunday, and resumed increasing Monday.
The national average price is 4.5 cents more than one week ago and 19 cents higher than one month ago but a half-cent less than one year ago. It has dropped $1.337 since rising to a record $5.016 on June 14, 2022.
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