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LOS ANGELES (CNS) - The average prices of a gallon of self-serve regular gasoline in Los Angeles and Orange counties were at record highs for Labor Day Monday for the third consecutive year.
A run of 38 increases in 42 days to the Los Angeles County average price totaling 42.7 cents ended Monday with a decrease of two-tenths of a cent to $5.397, according to figures from the AAA and Oil Price Information Service. The average price is 3.1 cents more than one week ago, 25.6 cents higher than one month ago and 11.5 cents above what it was one year ago.
The average price has dropped $1.097 since rising to a record $6.494 on Oct. 5.
The previous Labor Day record was $5.287.
The Orange County average price rose for the 30th time in 35 days, increasing seven-tenths of a cent to $5.356, its highest amount since Nov. 16. It has risen 33.2 cents over the past 35 days, including 1 cent Sunday.
The Orange County average price is 4.5 cents more than one week ago, 27.4 cents higher than one month ago and 13.5 cents above what it was one year ago. It has dropped $1.103 since rising to a record $6.459 on Oct. 5.
The previous Orange County Labor Day record was $5.23.
The Labor Day records are the result of a "dropoff in production ... in addition to the continued higher oil prices and inflation that drove California price averages over $5 a gallon in the past month," Marie Montgomery, a public affairs specialist with the Automobile Club of Southern California, told City News Service.
"According to Oil Price Information Service and the California Energy Commission, some of the state's refineries are undergoing planned and unplanned maintenance right now and that is part of the reason that the state's gasoline production dropped 18% last week from the previous week, resulting in continued upward pressure on gas prices," Montgomery said.
"OPIS says that is the biggest one-week drop in production since the week of Feb. 24."
The national average price rose one-tenth of a cent to $3.813, following four consecutive decreases totaling 1.5 cents, including three-tenths of a cent both Saturday and Sunday. It is six-tenths of a cent less than one week ago and 1.8 cents lower than one month ago, but 2.4 cents more than one year ago.
The national average price has dropped $1.203 since rising to a record $5.016 on June 14, 2022.