LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today for the eighth consecutive day, increasing four-tenths of a cent to $3.328.
The average price has risen 7 cents over the past eight days, including 1.1 cents on Thursday, according to figures from the AAA and Oil Price Information Service. The increases follow an eight-day streak of decreases totaling 5 cents that dropped the average price to its lowest amount since Jan. 20, 2018.
The average price is 5.7 cents more than one week ago but 1.1 cents less than one month ago and 12.8 cents lower than one year ago.
The Orange County average price rose one-tenth of a cent to $3.299. It has risen seven of the past eight days, increasing 7.2 cents, including three-tenths of a cent on Thursday. The increases follow an eight-day streak of decreases totaling 5 cents that dropped the Orange County average price to its lowest amount since Jan. 20, 2018.
The Orange County average price is 4.8 cents more than one week ago and two-tenths of a cent higher than one month ago but 12.5 cents lower than one year ago.
The increasing prices are the result of supply concerns following a power outage at Chevron's El Segundo refinery after it was struck by lightning, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“A Chevron spokesperson told Oil Price Information Service on Wednesday that the El Segundo refinery is still working to restore full capacity,” Spring said.
“OPIS also reported that there was a spike in recent days in California refiners buying gasoline on the open market to make up production shortfalls. However, that spike appears to be over, so upward pressure on pump prices may be easing a bit.”
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