Southland Gas Prices Continue To Spike

posted by City News Service - 

LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 1 cent today to $3.868, its highest amount in more than three years.

The average price has risen 18 consecutive days, increasing 20 cents, according to figures from the AAA and Oil Price Information Service.

The average price is 12 cents more than one week ago, 20.6 cents higher than one month ago and 76.9 cents greater than one year ago. It has risen 71.8 cents since the start of the year.

The Orange County average price rose eight-tenths of a cent to $3.825.

The Orange County average price has risen 17 consecutive days, increasing 21.4 cents. It is 12.1 cents more than one week ago, 21.9 cents higher than one month ago and 76.9 cents greater than one year ago. It has risen 70.9 cents since the start of the year.

The run of rising prices is the result of two Southern California refineries experiencing unplanned shutdowns, causing supply concerns, and an approximately 8 percent increase in the price of oil over the past month “over supply concerns resulting from the Iran sanctions and continuing falling production levels in Venezuela,” Marie Montgomery of the Automobile Club of Southern California told City News Service.

Photo: Getty Images

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