LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose eight-tenths of a cent today to $2.883, one day after remaining unchanged to end a run of four consecutive increases and 10 in 12 days.
The average price is 2.4 cents more than a week ago but nine-tenths of a cent less than a month ago and $1.148 lower than one year ago, according to figures from the AAA and Oil Price Information Service. It has decreased 73.2 cents since the start of the year.
The Orange County average price rose for the 14th consecutive day, increasing four-tenths of a cent to $2.848. It has risen 7.8 cents over the past 14 days, including a half-cent on Monday after dropping 68 of the previous 70 days to its lowest amount since Dec. 28, 2016, decreasing 74.9 cents.
The Orange County average price is 3.9 cents more than one week ago but 1.7 cents less than one month ago and $1.155 lower than one year ago. It has dropped 69.7 cents since the start of the year.
The rising prices are the result of increasing demand, refineries that are still producing gasoline at a much lower rate compared to last year and rising oil prices, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
The crude oil price and supply and demand are the most important factors in the gas price, Spring said.
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