LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today by its largest amount since May 11 -- 1.1 cents -- one day after increasing three-tenths of a cent.
The average price of $3.646 is 2.5 cents more than one week ago, two- tenths of a cent higher than one month ago and 58.5 cents greater than one year ago, according to figures from the AAA and Oil Price Information Service. It has risen 49.6 cents since the start of the year.
The Orange County average price rose by its largest amount since May 9 -- 1.7 cents -- one day after increasing by a half-cent. The average price of $3.591 is 3.1 cents more than one week ago, six-tenths of a cent higher than one month ago and 55.6 cents greater than one year ago. It has risen 47.5 cents since the start of the year.
``Wednesday, the Energy Information Administration reported that regional fuel supplies have reached their lowest point of the year,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
``Local refiners are apparently short on supplies to make the summer blend of gasoline that stations are required to sell until Oct. 31, causing a drawdown on inventory and sending futures and wholesale prices higher.”