LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped one-tenth of a cent today to $3.608, one day after rising six-tenths of a cent.
The average price is a half-cent more than one week ago and 28.9 cents higher than one year ago but 11.9 cents less than one month ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price rose two-tenths of a cent to $3.554, one day after increasing 1.2 cents. It is 1.8 cents more than one week ago and 27.4 cents higher than one year ago but 9.1 cents less than one month ago.
“Los Angeles wholesale gasoline prices increased earlier this week on news of unplanned flaring at the Marathon refinery in Carson and subsequent refinery purchases of fuel in the spot market,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“However, wholesale prices have backed off a bit (Thursday), and the Energy Information Administration reported Wednesday that West Coast gasoline inventories have grown, so it's unclear whether gas price declines are really over for this month. Currently, the incidents between the U.S. and Iran have not affected prices in this region, even though much of the crude oil purchased by California refineries comes from the Middle East.”
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