CA Gas Prices Rising Again: Highest, Lowest Prices In Hollywood

HOLLYWOOD, CA — While the majority of the nation reveled in a 99-day run of falling gas prices — which was finally broken Wednesday — Californians have continued to feel pain at the pump this month.

Fuel prices across the state have been rising steadily after a period of lower gas prices over the summer.

On Thursday, the cost of a regular gallon of gas in California rose to $5.51, up 8 cents from one week ago. Meanwhile, the nationwide average price for a gallon ticked up less than a 1 cent on Wednesday, to $3.68 a gallon, according to AAA. That's down from the record $5.02 average in mid-June.

In Los Angeles County, the average price for a regular gallon of gas Thursday was $5.58, up from $5.54 the previous day.

The most affordable gas Thursday in Hollywood could be found at an Arco station at 6100 Franklin Ave. Regular gas was going for $5.29 a gallon at the station when paying cash, according to GasBuddy.

The most expensive gas appeared to be at a Mobil station at 6301 Santa Monica Blvd., where a gallon of regular Thursday was $6.09.

Although Californians continued to endure the highest gas prices in the country, with prices still inching up in many areas in September, the nation’s 14-week decline in prices was the longest streak since 2015.

Gas prices typically reflect trends in global oil prices, and crude — both the U.S. benchmark and the international Brent — have been slumping since mid-June on growing fears of a global recession that would reduce demand for energy.
Many energy analysts believe that prices are more likely to rise than fall in the next few months. However, changes in sentiment about the economy, Russia's war against Ukraine, and even hurricane season — always a threat to disrupt refineries along the Gulf Coast — make predictions uncertain.

“I suspect that we will see choppy prices for gasoline through year end, with some down days and up days,” said Tom Kloza of the Oil Price Information Service.

Kloza predicted that the next streak will be a run of price increases early next year, driven by investors, speculators and “the fear that there won’t be enough fuel to go around.”

In June, the nationwide average price soared above $5 a gallon — and over $6 in California — as economic recovery and an increase in travel boosted demand for gasoline, and Russia's war in Ukraine caused a spike in oil prices.

The surge in prices caused financial pain for families and a political headache for both Gov. Gavin Newsom and the Biden administration.

In the Golden State, gas rebate checks, dubbed the Middle Class Tax Refund, were expected to start hitting bank accounts in October to help offset costs raised by inflation and trends in global oil.

READ MORE: CA Giving Away $9.5B Next Month: What To Know

The Associated Press contributed to this report.