LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 1.5 cents today to $3.759, one day after rising 1.7 cents for its largest increase since April 27.
The average price -- which had dropped 50 times in one 56-day span in May and June -- is 2.5 cents higher than one week ago, 21.2 cents lower than one month ago, and 9.3 cents more than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price rose 1.2 cents to $3.714, one day after rising 2.3 cents for its largest increase since April 27. The Orange County average price is 3.4 cents more than one week ago, 22.8 cents less than one month ago, and 9.6 cents more than one year ago.
“Los Angeles wholesale gasoline prices jumped this week on news that after five weeks of inventory buildup on the West Coast, gasoline supplies declined in the last week,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“Demand is being at least partially fueled by the all-time record 3.5 million Southern Californians expected to travel over the Independence Day holiday, a 3.9 percent increase from last year.”
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