LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 1.3 cents today to $4.065 -- its highest amount since July 31, 2015.
The average price has risen 35 consecutive days, increasing 70.6 cents, including 2.7 cents Saturday, according to figures from the AAA and Oil Price Information Service. It is 19.9 cents more than one week ago, 69.6 cents higher than one month ago and 46.6 cents greater than one year ago.
The Orange County average price rose 1 cent to $4.032, one day after rising 2.5 cents to surpass the $4-a-gallon mark for the first time since Aug. 2, 2015.
It has risen 27 consecutive days, increasing 71 cents, and is 20.1 cents more than one week ago, 71.5 cents higher than one month ago and 46.3 cents greater than one year ago.
The recent sharp increases are the result of a series of refinery issues that have reduced supply, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Out of the 10 major refineries in California, six are dealing with planned maintenance, unplanned breakdowns or both, and four of those refineries are in Southern California,” Spring said.
“(Wednesday's) report from the U.S. Energy Information Administration indicated that Los Angeles gasoline inventories dropped by about two million barrels, and a source reported to Oil Price Information Service that Southern California received no imported gasoline in the last week. Because demand also typically increases at this time of year, this has posed serious concerns for supply.”
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