As of this week, the average price of unleaded gas in Orange County is $4.377 for regular (87), $4.475 for mid (89), and $4.571 for premium (91). Last week, prices were $4.375 (87), $4.475 (89) and $4.570 (91), showing that gas prices have slightly increased.
However, when compared to a month ago, gas prices have increased by more than $.50 a gallon. A month ago, prices averaged $3.858 (87), $3.954 (89) and $4.052 (91).
Despite the sudden increase in gas prices, we have yet to approach record prices in Orange County. The record high for gas was June 29 ,2008 when the average price of gas was $4.598 for regular unleaded.
What does the future hold for gas prices? Some believe that it will continue to rise and be more than $5.00/gal nationwide by Memorial Day. Others believe that gas prices will go down (but not for good reasons).