LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose for the fifth consecutive day today, increasing nine-tenths of a cent to $2.849.
Before the latest streak of rising prices began, the average price had gone 69 straight days without increasing, dropping 65 days and remaining the same the other four days, to its lowest amount since Jan. 1, 2017, according to figures from the AAA and Oil Price Information Service.
The average price is 2.1 cents more than a week ago, 12.5 cents lower than a month ago and $1.24 cheaper than one year ago.
The Orange County average price also rose for the fifth consecutive day, spiking 1.2 cents to $2.805. It had been at its lowest amount since Dec. 28, 2016, before rising Wednesday. It is 2.9 cents more than one week ago, 14.4 cents lower than one month ago and $1.26 cheaper than one year ago.
“In the past week, Saudi Arabia increased its barrel price for oil, refineries in the region continued to reduce production and demand continued to increase incrementally,” said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“This is the second week of very small price declines, with some cities seeing flat prices or a slight increase.”
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